Updated Dec 4, 2024
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
About this deal
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
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