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Cushman & Wakefield Procures 1031 Exchange Buyer, Sells Multifamily Asset In Ditmars-Steinway, Queens For $8.9M

Property Image
SOLD
$8,900,000
Dylan Walsh
Nick Kolbus

New York

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MultiFamily15,844 SF
Sold 12/19/2023
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Property Image
SOLD

Cushman & Wakefield Procures 1031 Exchange Buyer, Sells Multifamily Asset In Ditmars-Steinway, Queens For $8.9M

31-09 21st Avenue

See Similar Deals
MultiFamily15,844 SF
Sold 12/19/2023
Dylan Walsh
Nick Kolbus
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$561
Total Square Footage:15,844 SF
Transaction Type:Sale

A multifamily property located at 31-09 21st Avenue in Ditmars-Steinway, Queens has been sold for a price of $8,900,000. The property consists of 25 units, with a price per unit of $356,000. The total square footage of the property is 15,844, with a price per square foot of $562.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,900,000
  • Units: 25
  • Price per Unit: $356,000
  • Square Footage: 15,844
  • Price per Square Foot: $562
  • Address: 31-09 21st Avenue
  • Market: Ditmars-Steinway, Queens

The sale of this property was facilitated by Dylan Walsh and Nick Kolbus of Cushman & Wakefield. They were able to secure a 1031 exchange buyer who paid 10% over the market value and completed the transaction within 30 days. This successful sale highlights the high demand for well-maintained properties that offer a smooth transition of ownership.

Players

Dylan Walsh
Cushman & Wakefield
Dylan Walsh
72 deals$582.7M volume(917) 887-5441
BROKER
Nick Kolbus
Cushman & Wakefield
Nick Kolbus
34 deals$145.2M volume(718) 275-5472
BROKER

Details

SOLD
IMAGE: Dylan Walsh & Nick Kolbus DATE: 12/19/2023 ADDRESS: 31-09 21st Avenue MARKET: Ditmars-Steinway, Queens ASSET TYPE: Multifamily BROKERS: Dylan Walsh (@DylWalCRE) & Nick Kolbus (@NKolbus_CRE) - Cushman & Wakefield (@CushWake) SALE PRICE: $8,900,000 UNITS: 25 ~ PPU: $356,000 SF: 15,844 ~ PPSF: $562 NOTE FROM BROKER: Cushman & Wakefield was able to procure a 1031 exchange buyer who paid 10% over the market and signed and closed on the building in less than 30 days. This is a testament of the strong demand for cash flowing buildings with low deferred maintenance that offer a seamless transition of ownership.

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