Updated Oct 29, 2024
Global One Real Estate Fund II Acquires Astoria Multifamily For $15.6M
25-98 36th St, Queens, NY 11103, USA
$15,600,000
$306/SF
Building Size
50,910 SF
Asset Type
MultiFamily
Closing
Oct 4, 2020
About this deal
AI
An affiliate of Nelson Management Group, Global One Real Estate Fund II, has acquired a multifamily property located at 25-98 36th Street in Astoria. The property, sold by the Estate of John Xikis, was brokered by Ted Mastakouris of Iron Castle Group. The transaction closed on 10/05/2020 for a sale price of $15,600,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $15,600,000
- Address: 25-98 36th Street
- Market: Astoria
- Buyer: Global One Real Estate Fund II (an affiliate of Nelson Management Group)
- Seller: Estate of John Xikis
- Broker: Ted Mastakouris – Iron Castle Group
The property consists of 59 units, spanning a total of approximately 50,910 square feet. With a price per square foot of $306, the average price per unit amounts to $264,406.
Players
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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93