Updated Dec 20, 2023
Marcus & Millichap Facilitates $11.2M Cash Closing For Astoria Multifamily Property
3047 29th Street, Astoria, NY 11102, USA
$11,200,000
$324/SF
Building Size
34,500 SF
Asset Type
MultiFamily
Closing
Oct 4, 2021
About this deal
AI
A multifamily property located at 30-47 29th Street in Astoria, Queens has been sold for $11,200,000. The property consists of 45 units with an average price per unit of $248,888. It spans across 34,500 square feet, resulting in a price per square foot of $324. The sale closed in cash for $250,000 above the asking price.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $11,200,000
- Units: 45
- Price per Unit: $248,888
- Square Footage: 34,500
- Price per Square Foot: $324
- Market: Astoria, Queens
The sale of 30-47 29th Street was facilitated by brokers Shaun Riney, Dylan Walsh, and Sean Fopeano from Marcus & Millichap New York.
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
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93