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32-64 41st Street

Frank Kurre Buys Multifamily Property From The Varrichio Family In Astoria Sale
SOLDMultiFamily

Frank Kurre Buys Multifamily Property From The Varrichio Family In Astoria Sale

32-64 41st Street

$2,750,000

$278/SF

Building Size

9,880 SF

Asset Type

MultiFamily

Closing

Jun 27, 2024

AI

The multifamily property located at 32-64 41st Street in Astoria, Queens, was sold for $2,750,000. This property encompasses 20 units, offering a price per unit of $137,500. The total square footage of the property is 9,880, translating to a price per square foot of $278.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,750,000
  • Units: 20
  • Price Per Unit: $137,500
  • Square Footage: 9,880
  • Price Per Square Foot: $278
  • Address: 32-64 41st Street, Astoria, Queens
  • Market: Astoria, Queens

Frank Kurre acquired the property from The Varrichio Family. The transaction was facilitated by Shaun Riney, Sean Fopeano, David Cornejo, and Louis Zarif of Marcus & Millichap.

Players

Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker

Astoria 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

5.77%

Cash-on-Cash

-1.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93