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
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