Demetrios Roussos Acquires Long Island City Multifamily For $1.73M

A legal 3-family property located in Astoria, Long Island City, was recently sold for a total of $1,730,000. Situated at 33-50 28th Street, this multi-family asset spans across approximately 3,200 square feet, resulting in a price per square foot of $541.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $1,730,000
• Address: 33-50 28th Street
• Market: Long Island City

Congratulations to buyer Demetrios Roussos on completing their 1031 exchange with the purchase of this property. The buyer was represented by Dylan Walsh and Nick Kolbus from Cushman & Wakefield throughout the negotiation and closing process. The seller, Anthony & Gerard McPhelim, successfully completed the sale with the assistance of the aforementioned brokers.

Cushman & Wakefield played a pivotal role, representing the buyer not only in this transaction but also in the original sale that led to the buyer's 1031 exchange. This successful deal marks a significant milestone for all parties involved.