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
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