Amit Veeramachaneni Sells Multifamily Asset At 30-38 29th Street In Astoria For $11.97M
SOLD
$11,973,675
+ 2
New York
See Similar DealsMultiFamily10,111 SF
Sold 04/20/2025
SOLD
Amit Veeramachaneni Sells Multifamily Asset At 30-38 29th Street In Astoria For $11.97M
30 38 29th Street
See Similar DealsMultiFamily10,111 SF
Sold 04/20/2025
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,184
Total Square Footage:10,111 SF
Transaction Type:Sale
The transaction involves a multi-family asset located at 30-38 29th Street in Astoria. The sale price was $11,973,675, reflecting a price per unit of $598,683 across a total of 20 units. The property spans 10,111 square feet, with a price per square foot of $1,184.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $11,973,675
- Units: 20
- Price Per Unit: $598,683
- Square Footage: 10,111
- Price Per Square Foot: $1,184
- Seller: Amit Veeramachaneni
- Seller's Representatives: Michael Bethoney, Nayi Shen, Michael DeSena & Thomas Babusik - Bethoney Shen Team & Nest Seekers International
The deal was facilitated by the Bethoney Shen Team, representing the seller Amit Veeramachaneni. The collaborative effort of the represented agents was instrumental in finalizing this transaction in Astoria.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$638,596.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,539.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,761.33
Annual Debt Service$681,135.94
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