Lai Tam Acquires 3-Unit Multifamily In Astoria For $1.72M
SOLD
$1,720,000
New York
See Similar DealsMultiFamily2,521 SF
Sold 11/16/2022
SOLD
Lai Tam Acquires 3-Unit Multifamily In Astoria For $1.72M
22 29th Street
See Similar DealsMultiFamily2,521 SF
Sold 11/16/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$682
Total Square Footage:2,521 SF
Transaction Type:Sale
A multifamily property located at 34-22 29th Street in Astoria has been sold for a price of $1,720,000. The property consists of 3 units with a total square footage of 2,521. The sale price per unit is approximately $573,333, and the price per square foot is around $682.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,720,000
- Address: 34-22 29th Street
- Market: Astoria
The buyer of the property is Lai Tam, and the seller is Wing Shu Fung. The transaction was facilitated by brokers Marius Rungo and Theodosis Neocli from Astoria Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$91,733.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,110.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,153.68
Annual Debt Service$97,844.13
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