Jay Lau Acquires Over Six Families Property In Old Astoria, Queens For $5.6M
SOLD
$5,600,000
New York
See Similar DealsMultiFamily6,206 SF
Sold 06/25/2021
SOLD
Jay Lau Acquires Over Six Families Property In Old Astoria, Queens For $5.6M
27-21 27th Street, Astoria, Queens County, NY, USA
See Similar DealsMultiFamily6,206 SF
Sold 06/25/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$902
Total Square Footage:6,206 SF
Transaction Type:Sale
An over six families without stores property located at 27-21 27th Street in Old Astoria, Queens was recently sold. The transaction took place on June 25, 2021, with a sale price of $5,600,000. The property spans 6,206 square feet, resulting in a price per square foot of $902. The previous sale of the property occurred on May 23, 2017, with a sale price of $2,000,000.
Summary of transaction details:
- Property Type: Over Six Families without Stores (C1) ~ R6B
- Transaction Amount: $5,600,000
- Square Footage: 6,206
- Price per Square Foot: $902
- Address: 27-21 27th Street
- Market: Old Astoria, Queens
The buyer of the property is Jay Lau, while the seller is Janos Kanta. No additional information is available regarding the deal participants.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28
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