Peak Capital RE Acquires Multifamily Property In Astoria, Queens For $2.55M
SOLD
$2,550,000
+ 1
New York
See Similar DealsMultiFamily6,423 SF
Sold 12/10/2021
SOLD
Peak Capital RE Acquires Multifamily Property In Astoria, Queens For $2.55M
31-64 41st Street
See Similar DealsMultiFamily6,423 SF
Sold 12/10/2021
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$397
Total Square Footage:6,423 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$136,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61
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