TriHill Management Acquires Astoria Multifamily Property From Steve Tenedios For $9.9M
SOLD
$9,900,000
New York
See Similar DealsMultiFamily28,480 SF
Sold 12/13/2021
SOLD
TriHill Management Acquires Astoria Multifamily Property From Steve Tenedios For $9.9M
31-40 30th Street, Queens, New York 11106, United States
See Similar DealsMultiFamily28,480 SF
Sold 12/13/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$347
Total Square Footage:28,480 SF
Transaction Type:Sale
The property involved in the transaction is a multifamily asset located at 31-40 30th Street & 41-07 28th Avenue in Astoria. The property is zoned as R5 and has a total square footage of 28,480. It consists of 40 units with an average price per unit of $247,500. The sale price for the property was $9,900,000, resulting in a price per square foot of $347.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,900,000
- Building Square Footage: 28,480
- Unit Count: 40
- Price Per Square Foot: $347
- Price Per Unit: $247,500
The buyer in this transaction is TriHill Management represented by Chris DeAngelis and Christine Monahan. The seller is Steve Tenedios.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$528,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,172.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$46,931.05
Annual Debt Service$563,172.61
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