The Loria Family Acquires Multifamily Property In Astoria, Queens For $13.26M
SOLD
New York
See Similar DealsMultiFamily51,930 SF
Sold 03/26/2024
SOLD
The Loria Family Acquires Multifamily Property In Astoria, Queens For $13.26M
34-50 28th Street
See Similar DealsMultiFamily51,930 SF
Sold 03/26/2024
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.
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Deal Type
30 years
10 years
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
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