Affinius Capital Acquires Multifamily Property In Queens For $700M

The multifamily property located at 29-59 Northern Boulevard in Queens was sold in a transaction between Affinius Capital as the buyer and The Durst Organization as the seller. The property consists of 958 units, totaling 626,843 square feet. The sale price for this asset was $700,000,000, equating to a price per unit of $730,689 and a price per square foot of $1,117.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $700,000,000
• Units: 958
• SF: 626,843
• PPU: $730,689
• PPSF: $1,117
• Address: 29-59 Northern Boulevard
• Market: Queens

The deal was facilitated by the brokerage team at Newmark, consisting of Adam Spies, Douglas Harmon, Adam Doneger, and Monica Brendsel. These brokers played a key role in connecting the buyer and seller for this significant transaction in the Queens market.