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

Property Image
SOLD
$16,600,000
Joshua "Josh" Pomerantz
Yona Golran

New York

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MultiFamily25,677 SF
Sold 12/04/2024
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Property Image
SOLD

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

34-49 Steinway Street

See Similar Deals
MultiFamily25,677 SF
Sold 12/04/2024
Joshua "Josh" Pomerantz
Yona Golran
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$646
Total Square Footage:25,677 SF
Transaction Type:Sale

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 "Josh" Pomerantz
SP Capital Group
Joshua Pomerantz
31 deals$142.6M volume(212) 235-2764
BROKER
Yona Golran
SP Capital Group
Yona Golran
1 deal$16.6M volume(347) 486-4467
BROKER

Details

SOLD
IMAGE: Yona Golran & Joshua Pomerantz DATE: 12/04/2024 ADDRESS: 34-49 Steinway Street MARKET: Astoria ASSET TYPE: Multifamily SELLER: Bob Gans BROKER: Joshua Pomerantz (@Pomdiggz) & Yona Golran (@Yonaagol) - SP Capital Group (@SPCapitalGroup) SALE PRICE: $16,600,000 SF: 25,677 ~ PPSF: $646 NOTE FROM BROKER: Josh Pomerantz and Yona Golran of SP Capital Group brokered the $16.6M sale of a 25,677- square foot building at 34-49 Steinway Street. This marks @SP Capital Group’s sixth transaction in the past month to end 2024 with a bang! For more off market deals in the 5 Boroughs, please reach out to our founding partner, Josh Pomerantz: [email protected] 212-242-5509

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$885,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$58,976.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,692.47
Annual Debt Service$944,309.63