Updated Sep 9, 2024
Alfonso Martone Acquires Multifamily Property In Astoria For $1.4M
22-24 42nd Street, Astoria, NY, USA
$1,400,000
$364/SF
Building Size
3,840 SF
Asset Type
MultiFamily
Closing
Aug 8, 2021
About this deal
AI
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.
On the Map
$1,400,000
$364/SF
MultiFamily
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Players
Astoria MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93