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:
- Property Type: Multifamily
- Transaction Amount: $6,100,000
- Address: 3509 191st St, Queens, NY, 11358
- Market: Flushing
- Seller's Representative: Daniel Abbondandolo - Cushman & Wakefield & Dimitri Mastrogiannis
- Buyer: Fairfield Properties
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
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