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Steinway, New York City, Ne...

Ilias Theodoropoulos Acquires Apartment Building In Ditmars - Steinway, Queens For $11.6M
SOLDMultiFamily

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

Ilias Theodoropoulos

Buyer

$33.9M

vol

4 deals

Buyer

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