Michael Kurre Acquires Multifamily Building In Astoria, Queens For $1.6M
SOLD
$1,625,000
New York
See Similar DealsMultiFamily4,300 SF
Sold 12/14/2023
SOLD
Michael Kurre Acquires Multifamily Building In Astoria, Queens For $1.6M
23-25 28th Avenue
See Similar DealsMultiFamily4,300 SF
Sold 12/14/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$377
Total Square Footage:4,300 SF
Transaction Type:Sale
A six-unit multifamily property located at 23-25 28th Avenue in Astoria, Queens has been sold for $1,625,000. The property spans 4,300 square feet and has an average price per square foot of $378. It features six residential units and offers a per unit price of $270,833.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,625,000
- Address: 23-25 28th Avenue, Astoria, Queens
- Market: Astoria, Queens
The buyer in this transaction was Michael Kurre, while the seller was Rita Amato. The deal was facilitated by Theodosis Neocli of Astoria Realty, who represented both parties in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$86,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,773.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,703.33
Annual Debt Service$92,439.95
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