Updated Dec 21, 2023
Michael Prete Acquires Astoria Multifamily From Lawrence Mattera For $2.3M
25-22 38th Street, Astoria, NY, USA
$2,300,000
$595/SF
Building Size
3,860 SF
Asset Type
MultiFamily
Closing
Jan 2, 2019
About this deal
AI
Located in the Astoria market, the multifamily property at 25-22 38th Street was recently sold in a closed transaction. The sale took place on January 3, 2019, with a purchase price of $2,300,000. The property spans across 3,860 square feet, resulting in a price per square foot of $595.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,300,000
- Address: 25-22 38th Street
- Market: Astoria
The seller of the property was Lawrence Mattera, while the buyer was Michael Prete. The transaction was facilitated by brokers Steve Lelekidis from Modern Spaces and Luca Di Ciero from NY Space Finders. Their expertise and representation were instrumental in the successful completion of the deal.
On the Map
$2,300,000
$595/SF
MultiFamily
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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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93