Sanjaya Mallick Acquires Multifamily Portfolio In Queens For $3.7M

A portfolio of 10 contiguous two-family buildings located at 315-333 Beach 84th St. in Far Rockaway, Queens has been sold for $3,725,000. The multifamily property spans a total of 19,758 square feet, with a price per square foot of $189.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $3,725,000
• Square Footage: 19,758
• Address: 315-333 Beach 84th St.
• Market: Queens

The buyer of the property is Sanjaya Mallick, and the seller is David Ishay. The deal was facilitated by brokers Harry Bouzaglou and Jack Sardar from Tri State Commercial Realty.

Despite numerous obstacles, including the lack of certificates of occupancy, tax liens, HPD vacate orders, open lis pendens, and problematic tenants, the transaction was successfully closed. The property had been on the market for several years with other brokers. Bouzaglou and Sardar were able to guide the buyer through these challenges, ultimately completing the sale despite high interest rates.