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31-31 35th St, Queens, NY 1...

Ervin Brahimi Acquires Multifamily Property In Astoria For $1.8M
SOLDMultiFamily

Ervin Brahimi Acquires Multifamily Property In Astoria For $1.8M

31-31 35th St, Queens, NY 11106, USA

$1,800,000

$35/SF

Building Size

50,250 SF

Asset Type

MultiFamily

Closing

Jan 7, 2020

AI

The multifamily property located at 31-31 35th Street in Astoria has been sold for a total price of $1,800,000. The property spans across 5,025 square feet, resulting in a price per square foot of $358. This transaction involved a total of 6 units, with each unit being sold at an average price of $300,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,800,000
  • Address: 31-31 35th Street
  • Market: Astoria
  • Square Footage: 5,025
  • Price per Square Foot: $358
  • Number of Units: 6
  • Price per Unit: $300,000

The seller of this property was Alex Gaal, while the buyer was Ervin Brahimi. Facilitating the deal was Alex Giannikas from modernspaces acting as the broker.

Players

Alex Giannikas

Modern Spaces

Broker

$15M

vol

3 deals

Broker

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

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93