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35-48 32nd St, Long Island ...

Sufia Khan Acquires Multifamily Property In Astoria, Queens For $1.128M
SOLDMultiFamily

Sufia Khan Acquires Multifamily Property In Astoria, Queens For $1.128M

35-48 32nd St, Long Island City, NY 11106, USA

$1,128,000

$383/SF

Building Size

2,940 SF

Asset Type

MultiFamily

Closing

Mar 12, 2020

AI

The multifamily property located at 35-48 32nd St. in Astoria, Queens has closed in a transaction. The property spans 2,940 square feet and was sold for a sale price of $1,128,000. The property was previously listed for an asking price of $1,200,000, resulting in a price per square foot of $385. The seller of the property was Chris Economou, while the buyer was Sufia Khan.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,128,000
  • Property Address: 35-48 32nd St., Astoria, Queens
  • Market: Astoria, Queens
  • Square Footage: 2,940
  • Seller: Chris Economou
  • Buyer: Sufia Khan

The transaction was facilitated by Luca DiCiero, a representative from @NYSpaceFinders. The property was delivered vacant at the closing of the deal.

Players

Luca DiCiero

NY Space Finders

Broker

$128.9M

vol

155 deals

Broker

Chris Economou

Seller

$3.1M

vol

2 deals

Seller

Astoria MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

14.06%

Cash-on-Cash

-4.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93