TDG Acquisitions Acquires Multifamily Property In Hollis Queens For $2.75M
35 Pinelawn Rd, Sound Beach, NY, USA
$2,750,000
$183/SF
Building Size
15,000 SF
Asset Type
MultiFamily
Closing
Apr 29, 2019
AI
A multifamily property located at 35 Pinelawn Rd in Hollis Queens was recently sold for $2,750,000. This property spans approximately 15,000 square feet, resulting in a price per square foot of $183. The sale took place on April 30, 2019.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,750,000
- Address: 35 Pinelawn Rd
- Market: Hollis Queens
The buyer, TDG Acquisitions represented by Rob DiNoto, acquired the property from 150 Hillside Ave Corp, represented by Michelle McCue. The transaction was facilitated by Corey Gluckstal and Guy Canzoneri from Five Point Real Estate.
Players
Sound Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93