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Ariel Property Advisors Sells Multifamily Asset At 30-58 & 30-64 34th Street For $12.5M

Property Image
SOLD
$12,500,000

New York

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MultiFamily99,200 SF
Sold 07/12/2024
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SOLD

Ariel Property Advisors Sells Multifamily Asset At 30-58 & 30-64 34th Street For $12.5M

30-58 34th Street & 30-64 34th Street

See Similar Deals
MultiFamily99,200 SF
Sold 07/12/2024
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$126
Total Square Footage:99,200 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 30-58 & 30-64 34th Street in Astoria. The sale amount for this partial interest was $12,500,000. The property comprises 70 units, totaling 49,600 square feet, with a price per unit of $178,571 and a price per square foot of $252.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $12,500,000
  • Units: 70
  • Square Feet: 49,600
  • Price Per Unit: $178,571
  • Price Per Square Foot: $252

The deal involved brokers Victor Sozio, Alexander Taic, and Remi Mandell, who are representatives from Ariel Property Advisors. These individuals facilitated the transaction, contributing their expertise in the multifamily real estate market in the Astoria area.

Players

Alexander Taic
20 deals$148.4M volume
BROKER

Victor Sozio
Ariel Property Advisors
111 deals$2.3B volume
BROKER

Remi Mandell
Ariel Property Advisors
16 deals$514.6M volume
BROKER

Details

SOLD
IMAGE: Victor Sozio, Alexander Taic & Remi Mandell DATE: 7/12/2024 ADDRESS: 30-58 & 30-64 34th Street MARKET: Astoria ASSET TYPE: Multifamily BROKERS: Victor Sozio, Alexander Taic & Remi Mandell - Ariel Property Advisors (@ArielPA.NYC) PARTIAL INTEREST SALE: $12,500,000 UNITS: 70 ~ PPU: $178,571 SF: 49,600 ~ PPSF: $252

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,409.85
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