Ilias Theodoropoulos Acquires Apartment Building In Ditmars - Steinway, Queens For $11.6M
Steinway, New York City, New York, United States
$11,600,000
$231/SF
Building Size
50,131 SF
Asset Type
MultiFamily
Closing
Jan 26, 2022
AI
An apartment in Ditmars - Steinway, Queens was recently sold for $11,600,000. The property, located at 23-06 21st Street, has a lot size of 10,379 square feet and a floor area ratio (FAR) of 4.83. The apartment is zoned as R5B and falls under tax class 2. The transaction took place on January 27, 2022. The buyer of the property is Ilias Theodoropoulos, while the seller is Matthew J. Quinn. The apartment has a building square footage (BSF) of 14,012 and a price per BSF of $827. The total square footage (SF) of the property is 50,131, with a price per SF of $231. The property underwent an alteration permit on April 29, 2021, and has lot dimensions of 100.02 ft x 103.77 ft.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $11,600,000
- Market: Ditmars - Steinway, Queens
Ilias Theodoropoulos represented himself as the buyer in this transaction. Matthew J. Quinn served as the seller's representative.
NOTE: No additional information is available for this transaction.Players
New York 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
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93