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31-64 41st Street

Peak Capital RE Acquires Multifamily Property In Astoria, Queens For $2.55M
SOLDMultiFamily

Peak Capital RE Acquires Multifamily Property In Astoria, Queens For $2.55M

31-64 41st Street

$2,550,000

$397/SF

Building Size

6,423 SF

Asset Type

MultiFamily

Closing

Dec 10, 2021

AI

A multifamily property located at 31-64 41st Street in Astoria, Queens was recently sold for a price of $2,550,000. The property consists of 8 units with a total square footage of 6,423. The price per unit was $318,750, and the price per square foot was $397. The sale was facilitated by brokers Angela Kontis and George Fuiaxis from Hellenic.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $2,550,000
  • Units: 8
  • Price per Unit: $318,750
  • Square Footage: 6,423
  • Price per Square Foot: $397
  • Address: 31-64 41st Street, Astoria, Queens
  • Market: Astoria, Queens

The buyer of the property was Peak Capital Real Estate, represented by Alex Rabin and David Gomez. The seller was George Giannaris. Angela Kontis and George Fuiaxis from Hellenic served as the brokers in the transaction.

Players

Angela Kontis

Broker

$11.8M

vol

5 deals

Broker
David Gomez

David Gomez

Buyer

$402.3M

vol

71 deals

Buyer

Astoria MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.22%

Cash-on-Cash

-1.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93