facebook
Traded Co logo
Submit

The Loria Family Acquires Multifamily Property In Astoria, Queens For $13.26M

Property Image
SOLD
$13,262,500

New York

See Similar Deals
MultiFamily51,930 SF
Sold 03/26/2024
the dealplayerscompscontact
Property Image
SOLD

The Loria Family Acquires Multifamily Property In Astoria, Queens For $13.26M

34-50 28th Street

See Similar Deals
MultiFamily51,930 SF
Sold 03/26/2024
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$255
Total Square Footage:51,930 SF
Transaction Type:Sale

The multifamily property located at 34-50 28th Street in Astoria, Queens, was sold for $13,262,500. This property consists of 76 units with a price per unit of $174,507. The total square footage spans 51,930, resulting in a price per square foot of $255.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $13,262,500
  • Units: 76
  • Price Per Unit: $174,507
  • Square Footage: 51,930
  • Price Per Square Foot: $255
  • Address: 34-50 28th Street
  • Market: Astoria, Queens

The sale of this multifamily asset was facilitated by Shaun Riney, Sean Fopeano, and Louis Zarif from Marcus & Millichap. The Loria Family acquired the property from the Kurzner Family in this transaction.

Players

Shaun Riney
357 deals$1.8B volume(718) 475-4369
BROKER

Sean Fopeano
Marcus & Millichap
27 deals$184.1M volume
BROKER

Louis Zarif
Marcus & Millichap
14 deals$117.5M volume
BROKER

Details

SOLD
IMAGE: Sean Fopeano, Shaun Riney & Louis Zarif DATE: 03/26/2024 ADDRESS: 34-50 28th Street MARKET: Astoria, Queens ASSET TYPE: Multifamily BUYER: The Loria Family SELLER: Kurzner Family BROKERS: Shaun Riney (@ShaunRiney1), Sean Fopeano (Sean_Fopeano_NYMF) & Louis Zarif (@RealLouisz) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $13,262,500 UNITS: 76 ~ PPU: $174,507 SF: 51,930 ~ PPSF: $255

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)

$707,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$47,118.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,871.02
Annual Debt Service$754,452.19