Updated Jan 2, 2025
Bob Gans Sells Multifamily Building At 34-49 Steinway Street In Astoria For $16.6M
34-49 Steinway Street
$16,600,000
$646/SF
Building Size
25,677 SF
Asset Type
MultiFamily
Closing
Dec 4, 2024
About this deal
AI
A multifamily building located at 34-49 Steinway Street in Astoria was sold for $16,600,000. The asset encompasses a total square footage of 25,677, resulting in a price per square foot of $646.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,600,000
- Address: 34-49 Steinway Street
- Market: Astoria
- Square Footage: 25,677
- Price Per Square Foot: $646
- Seller: Bob Gans
- Broker: Joshua Pomerantz & Yona Golran - SP Capital Group
This transaction was facilitated by brokers Joshua Pomerantz and Yona Golran of SP Capital Group, marking their sixth transaction in the past month as they concluded 2024. Interested parties for off-market deals in the 5 Boroughs can reach out to founding partner Josh Pomerantz for further inquiries.
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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93