SOLD
Cushman & Wakefield Procures 1031 Exchange Buyer, Sells Multifamily Asset In Ditmars-Steinway, Queens For $8.9M
31-09 21st Avenue
MultiFamily
15,844 SF
15,844 SF
Sold 135 days ago
Summary
Sale
NEW YORK
MultiFamily
15,844 sqft
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
All
3
Agents
2
Agencies
1
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.View on map
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Address31-09 21st Avenue
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