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32-29 Greenpoint Avenue

The Singh Family Purchases Mixed-Use Property From The Carroll Family For $1.335M
SOLDMultiFamily

The Singh Family Purchases Mixed-Use Property From The Carroll Family For $1.335M

32-29 Greenpoint Avenue

$1,335,000

$258/SF

Building Size

5,175 SF

Asset Type

MultiFamily

Closing

Nov 14, 2024

AI

The property located at 32-29 Greenpoint Avenue in Long Island City is a mixed-use asset that features a total of 5,175 square feet. The property encompasses three units, with a price per unit of $445,000 and a price per square foot of $257. The transaction was completed for a total sale price of $1,335,000.

Summary of transation details:

The Singh Family has acquired the asset from The Carroll Family, facilitated by the brokerage team from Marcus & Millichap. The representatives involved in this transaction were Shaun Riney, David Cornejo, Sean Fopeano, and Louis Zarifo.

Players

Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

Long Island City 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

11.88%

Cash-on-Cash

-3.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93