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34-49 Steinway Street

Bob Gans Sells Multifamily Building At 34-49 Steinway Street In Astoria For $16.6M
SOLDMultiFamily

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

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:

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

Joshua Pomerantz

SP Capital Group

Broker

$142.6M

vol

31 deals

Broker

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