Updated Dec 21, 2023
Vasilios Falidas Acquires Multifamily Property In Old Astoria, Queens For $5.8M
28 31st Street, Queens, New York 11105, United States
$5,815,000
$344/SF
Building Size
16,875 SF
Asset Type
MultiFamily
Closing
Jan 6, 2022
About this deal
AI
A multifamily property located at 28-04 31 Street in Old Astoria, Queens, has been sold for a total price of $5,815,000. The property has a building square footage (BSF) of 12,750, resulting in a price per BSF (PPBSF) of $456. The total square footage (SF) of the property is 16,875, with a price per SF (PPSF) of $344. The property is zoned as C4-3 in accordance with the local zoning laws.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,815,000
- Market: Old Astoria, Queens
The buyer of the property is Vasilios Falidas, while the seller is Angelo Vlachos. The property has a floor area ratio (FAR) of 4.50 and falls under tax class 2. The lot size is 3,750 square feet. The previous sale price of the property was $1,175,000 on 03/31/2004. An alteration permit was issued on 01/27/2009.
The lot dimension of the property is 50 feet by 75 feet.
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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93