Harry Otterman Acquires 6-Unit Multi-Family Property In Jackson Heights For $1.65M

The multi-family property located at 35-15 72nd Street, Jackson Heights in Queens, New York, has been sold. The property consists of 6 units, with 3 of them delivered vacant. The total square footage of the property is 4,860, with a price per square foot of $340. The transaction took place on July 18, 2018, with a selling price of $1,650,000. The price per unit (PPU) was $275,000, and the capitalization rate (CAP) was 1%.

Summary of transaction details

• Property Type: Multi-Family
• Transaction Amount: $1,650,000
• Units: 6 (3 Delivered Vacant)
• Price Per Unit: $275,000
• Square Footage: 4,860
• Price per Square Foot: $340
• Seller: Kathy NG
• Buyer: Harry Otterman
• Broker: Stephen R. Preuss of Cushman & Wakefield

Stephen R. Preuss of Cushman & Wakefield facilitated the transaction as the broker. Both the seller, Kathy NG, and the buyer, Harry Otterman, were represented by Stephen R. Preuss.