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:
- Property Type: Mixed-use
- Transaction Amount: $1,335,000
- Units: 3
- Square Feet: 5,175
- Price Per Unit: $445,000
- Price Per Square Foot: $257
- Buyer: The Singh Family
- Seller: The Carroll Family
- Broker Representatives: Shaun Riney, David Cornejo, Sean Fopeano & Louis Zarifo - Marcus & Millichap
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
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