Updated Dec 21, 2023
Thomas Laskaris Acquires Multifamily In South Astoria, Queens For $7.25M
32-55 Steinway Street, Long Island City, NY, USA
$7,250,000
$302/SF
Building Size
24,001 SF
Asset Type
MultiFamily
Closing
Mar 16, 2021
About this deal
AI
A multifamily property located at 32-55 & 32-57 Steinway Street in South Astoria, Queens has been sold for a price of $7,250,000. The property is situated in a C4-2A zoned area and has a lot size of 1,560 square feet. The building has a total gross square footage of 21,366, resulting in a price per square foot of $339. The property spans across 24,001 square feet, with a price per square foot of $302.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,250,000
- Market: South Astoria, Queens
- Zoning: C4-2A
The buyer of the property is Thomas Laskaris, while the seller is Andrew Latos.
The property has a floor area ratio (FAR) of 3.37 and is classified as tax class 2. It has undergone an alteration of type 2 permit on June 24, 2013. The lot dimensions measure 37.42 feet by 95 feet.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.19%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93