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23-25 28th Avenue

Michael Kurre Acquires Multifamily Building In Astoria, Queens For $1.6M
SOLDMultiFamily

Michael Kurre Acquires Multifamily Building In Astoria, Queens For $1.6M

23-25 28th Avenue

$1,625,000

$377/SF

Building Size

4,300 SF

Asset Type

MultiFamily

Closing

Dec 14, 2023

AI

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.

Players

Theodosis Neocli

Astoria Realty

Broker

$15.8M

vol

10 deals

Broker

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

9.76%

Cash-on-Cash

-2.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93