Alfonso Martone Acquires Multifamily Property In Astoria For $1.4M
SOLD
$1,400,000
New York
See Similar DealsMultiFamily3,840 SF
Sold 08/09/2021
SOLD
Alfonso Martone Acquires Multifamily Property In Astoria For $1.4M
22-24 42nd Street, Astoria, NY, USA
See Similar DealsMultiFamily3,840 SF
Sold 08/09/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$364
Total Square Footage:3,840 SF
Transaction Type:Sale
A multifamily property located at 22-24 42nd Street in Astoria has been sold in a recent transaction for a total price of $1,400,000. The property consists of 7 units, with a price per unit (PPU) of $200,000. Spanning across 3,840 square feet, the property has a price per square foot (PPSF) of $364. The cap rate for this investment stands at 5.5%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Address: 22-24 42nd Street, Astoria
- Market: Astoria
The buyer in this transaction is Alfonso Martone, while James Zaccaria is the seller. Parry Ermogenous and Gianfranco Salamone represented both parties as brokers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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