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3509 191st St, Queens, NY, ...

Fairfield Properties Acquires Property In Flushing Queens For $6.1 Million With Dan Abbondandolo As Seller's Rep
SOLDMultiFamily

Fairfield Properties Acquires Property In Flushing Queens For $6.1 Million With Dan Abbondandolo As Seller's Rep

3509 191st St, Queens, NY, 11358

$6,100,000

Building Size

Asset Type

MultiFamily

Closing

Nov 19, 2023

AI

The property asset involved in this transaction is a 16-unit multifamily property located at 3509 191st St, Queens, NY, 11358, representing a total transaction value of $6,100,000. The property consists of one- and two-bedroom duplex units as well as three-bedroom triplex units, situated in the Flushing market area.

Summary of transaction details:

Daniel Abbondandolo and Dimitri Mastrogiannis of Cushman & Wakefield served as the representatives for the seller, The DiNoto Group, in this transaction. The location is in proximity to the Auburndale Long Island Rail Road station, which adds accessibility to the area.

Players

Dimitri Mastrogiannis

Broker

$47.9M

vol

6 deals

Broker
Fairfield Properties
Fairfield PropertiesBuyer

Flushing 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

2.60%

Cash-on-Cash

-0.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93