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3237 Downing Street, Flushi...

Vincent Gallo Acquires Multifamily Property In Flushing For $4.4M
SOLDMultiFamily

Vincent Gallo Acquires Multifamily Property In Flushing For $4.4M

3237 Downing Street, Flushing, NY 11354, USA

$4,400,000

$488/SF

Building Size

9,000 SF

Asset Type

MultiFamily

Closing

Apr 14, 2019

AI

A multifamily property located at 32-37 Downing St in Flushing has been sold for a price of $4,400,000. This property, represented by Brian Jaffe of Jaffe Realty, offers a total of $488 per square foot. The transaction took place on April 15, 2019.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,400,000
  • Price per Square Foot: $488
  • Address: 32-37 Downing St
  • Market: Flushing

Damiano Petrucelli was the seller of this property, while Vincent Gallo emerged as the buyer. Brian Jaffe, representing Jaffe Realty, acted as the seller's representative in this transaction.

Players

Brian Jaffe

Jaffe Realty LLC

Broker

$107.8M

vol

9 deals

Broker

Vincent Gallo

Buyer

$6M

vol

2 deals

Buyer

Damiano Petruccelli

Seller

$8.8M

vol

2 deals

Seller

New York 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

3.61%

Cash-on-Cash

-1.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93