George Regan Acquires Multifamily Property In Queens For $8.3M

A multifamily property located at 3222-3226 41st St. in Queens was recently sold for a total price of $8,300,000. The transaction took place on February 19, 2021, and the property consists of 40 units. The price per unit was $207,500, and the building has a total square footage of 9,500. The price per square foot was $873, and the property's total area is 19,760 square feet. The capitalization rate for this transaction is 5.4%. The buyer for this property was George Regan, and the seller was S&V Management, represented by Angela Hosni. The brokers involved in the deal were Stephen R. Preuss and Andreas Efthymiou, who are part of the eamPreuss at CushWake agency.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,300,000
• Units: 40
• Price per Unit: $207,500
• Building Square Footage: 9,500
• Price per Square Foot: $873
• Total Area: 19,760 square feet
• Capitalization Rate: 5.4%

This successful transaction was made possible by the collaboration of key individuals and companies. George Regan acted as the buyer, while S&V Management, led by Angela Hosni, was the seller. The deal was facilitated by brokers Stephen R. Preuss and Andreas Efthymiou from the eamPreuss at CushWake agency.