Vincent Todaro Acquires Multifamily Property In Long Island City For $1.8M
SOLD
New York
See Similar DealsMultiFamily5,400 SF
Sold 12/04/2018
SOLD
Vincent Todaro Acquires Multifamily Property In Long Island City For $1.8M
34-32 43rd Street, Long Island City, NY, USA
See Similar DealsMultiFamily5,400 SF
Sold 12/04/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$339
Total Square Footage:5,400 SF
Transaction Type:Sale
A multifamily property located at 34-32 43rd Street in Long Island City was recently sold for $1,835,000. The property spans 5,400 square feet, resulting in a price per square foot of $339.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,835,000
- Address: 34-32 43rd Street
- Market: Long Island City
The seller of the property was Tony Arnidis, while the buyer was Vincent Todaro. The deal was facilitated by brokers Theo Kontis and Vincenzo Amato from tekra_ny. It is worth noting that the property is located within an Opportunity Zone.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$97,866.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,519.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,698.84
Annual Debt Service$104,386.03
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