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27-21 27th Street, Astoria,...

Jay Lau Acquires Over Six Families Property In Old Astoria, Queens For $5.6M
SOLDMultiFamily

Jay Lau Acquires Over Six Families Property In Old Astoria, Queens For $5.6M

27-21 27th Street, Astoria, Queens County, NY, USA

$5,600,000

$902/SF

Building Size

6,206 SF

Asset Type

MultiFamily

Closing

Jun 24, 2021

AI

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.

Players

Jay Lau

Buyer

$46.4M

vol

5 deals

Buyer

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

2.83%

Cash-on-Cash

-0.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93