Mike Konstantinidis Purchases Multifamily Asset In Astoria For $1.075M With Steve Lelekidis As Buyer's Rep
28 14 47th Street
$1,075,000
$204/SF
Building Size
5,250 SF
Asset Type
MultiFamily
Closing
Jul 28, 2025
AI
The asset involved in the transaction is a multifamily property located at 28-14 47th Street in Astoria. The selling price of the property was $1,075,000, and it comprises 6 units with a total square footage of 5,250. The price per unit is calculated at $179,166, while the price per square foot stands at $204.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,075,000
- Units: 6
- Square Footage: 5,250
- Price Per Unit: $179,166
- Price Per Square Foot: $204
- Buyer: Mike Konstantinidis
- Seller: Jerry Metejka
- Buyer's Representative: Steve Lelekidis - Modern Spaces
- Seller's Representative: Anthony Lo Verme - Blue Brick Real Estate
The transaction involved key individuals including the buyer, Mike Konstantinidis, and the seller, Jerry Metejka. The representatives for the buyer and seller were Steve Lelekidis from Modern Spaces and Anthony Lo Verme from Blue Brick Real Estate, respectively, who facilitated the deal.
Players
Astoria 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
14.76%
Cash-on-Cash
-4.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93