Updated Sep 9, 2024
Ariel Property Advisors Facilitates $11.2M Sale Of Multifamily Property In Long Island City, Queens
32 04 38th Avenue
$11,244,000
$533/SF
Building Size
21,077 SF
Asset Type
MultiFamily
Closing
Jul 12, 2022
About this deal
AI
A multifamily property located at 32-04 38th Avenue in Long Island City, Queens has been sold for a total of $11,244,000. The property consists of 21 units with an approximate price per unit of $535,428. It spans a total area of 21,077 square feet, resulting in a price per square foot of $533.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,244,000
- Units: 21
- Price Per Unit: $535,428
- Square Footage: 21,077
- Price Per Square Foot: $533
- Address: 32-04 38th Avenue, Long Island City, Queens
- Market: Long Island City, Queens
- Brokers: Alexander Taic & Victor Sozio - Ariel Property Advisors
Alexander Taic and Victor Sozio from Ariel Property Advisors represented the involved parties in this transaction.
Players
Vero Beach 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
1.41%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93