Updated Oct 28, 2024
Arker Companies Acquires Multifamily Property In Far Rockaway For $45M
22-10 New Haven Avenue, Queens, New York 11691, United States
$45,000,000
$249/SF
Building Size
180,300 SF
Asset Type
MultiFamily
Closing
Apr 24, 2022
About this deal
AI
The multifamily property located at 22-10 New Haven Avenue in Far Rockaway has been sold. The transaction took place on April 25, 2022. The property is owned by Mallory Management and was purchased by Arker Companies for a total of $45,000,000. The sale includes a total of 153 units, with a price per unit of $294,117. The property spans a total area of 180,300 square feet, resulting in a price per square foot of $249.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $45,000,000
- Units: 153
- Price per Unit: $294,117
- Square Footage: 180,300
- Price per Square Foot: $249
Arker Companies, represented by Alex Arker, completed the purchase of the property from Mallory Management.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93