Wong Family Acquires Multifamily Asset From Lambadis Family For $7.35M In Long Island City

The property asset involved in this transaction is a multifamily building located at 27-08 39th Avenue in Long Island City. The sale price of the property was $7,350,000, with a total of 40 units, translating to a price per unit of $183,750. The building has a total square footage of 25,125, resulting in a price per square foot of $292.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,350,000
• Units: 40
• Price Per Unit: $183,750
• Square Footage: 25,125
• Price Per Square Foot: $292
• Buyer: Wong Family
• Seller: Lambadis Family
• Brokers: Matt Fotis & Lazarus Apostolidis - Marcus & Millichap

This transaction involved the Wong Family as the buyer and the Lambadis Family as the seller. The deal was facilitated by brokers Matt Fotis and Lazarus Apostolidis from Marcus & Millichap, who represented the entities involved in the transaction.