facebook
Traded Co logo
Submit

Ginsberg Family Sells Multifamily Properties In Jackson Heights And Elmhurst For $46.5 Million

Property Image
SOLD
$46,500,000

New York

See Similar Deals
MultiFamily1,164,000 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Ginsberg Family Sells Multifamily Properties In Jackson Heights And Elmhurst For $46.5 Million

34-44 77th Street, 56-11 94th Street & 40-40 79th Street

See Similar Deals
MultiFamily1,164,000 SF
Sold
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$39
Total Square Footage:1164000 SF
Transaction Type:Sale

This transaction involves a multifamily property located at 34-44 77th Street, 56-11 94th Street, and 40-40 79th Street, situated in the Jackson Heights and Elmhurst markets. The sale price amounted to $46,500,000 with a total of 433 units. The property covers a square footage of 388,000, resulting in a price per unit of $107,390 and a price per square foot of $119.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $46,500,000
  • Address: 34-44 77th Street, 56-11 94th Street & 40-40 79th Street
  • Market: Jackson Heights, Elmhurst
  • Units: 433
  • Square Feet: 388,000
  • Price per Unit: $107,390
  • Price per Square Foot: $119
  • Seller: Ginsberg Family
  • Broker Representatives: Robert Khodadadian, Daniel Shirazi & Daniel Davidov - Skyline Properties

The Ginsberg Family was the seller in this transaction, represented by the brokerage firm Skyline Properties. The brokers involved in the deal were Robert Khodadadian, Daniel Shirazi, and Daniel Davidov, who facilitated the process of the sale.

Players

Daniel Shirazi
16 deals$825.5M volume
BROKER

Robert Khodadadian
Skyline Properties
30 deals$1.1B volume(212) 537-9239
BROKER

Stephen Tang-Alcala
Skyline Properties
5 deals$531.5M volume(212) 537-9239
BROKER

Details

SOLD
IMAGE: Daniel Shirazi, Robert Khodadadian & Daniel Davidov DATE: 10/23/2024 ADDRESS: 34-44 77th Street, 56-11 94th Street & 40-40 79th Street MARKET: Jackson Heights, Elmhurst ASSET TYPE: Multifamily SELLER: Ginsberg Family BROKERS: Robert Khodadadian (@Robert_Khodadadian), Daniel Shirazi (@Shiraziesq) & Daniel Davidov - Skyline Properties (@SkylinePropertiesNYC) SALE PRICE: $46,500,000 UNITS: 433 ~ PPU: $107,390 SF: 388,000 ~ PPSF: $119

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,479,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$165,204.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$220,433.72
Annual Debt Service$2,645,204.68