Updated Dec 21, 2023
Peter Panas Acquires Woodside, Queens Multifamily For $4.85M
39-26 62nd St, Flushing, NY 11377, USA
$4,850,000
$27/SF
Building Size
176,000 SF
Asset Type
MultiFamily
Closing
Feb 5, 2020
About this deal
AI
A multifamily property located at 39-26 62nd Street in Woodside, Queens, was recently sold for a total price of $4,850,000. The property spans across 17,600 square feet, resulting in a price per square foot of $276. This multifamily asset consists of 26 units, all of which are 100% rent stabilized. The price per unit for the property equates to $186,538, and the capitalization rate is calculated at 5.22%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,850,000
- Address: 39-26 62nd Street
- Market: Woodside, Queens
- Square Footage: 17,600
- Price per Square Foot: $276
- Units: 26 (100% Rent Stabilized)
- Price per Unit: $186,538
- Capitalization Rate: 5.22%
The seller of the property was Nicolas Colombos, while the buyer was Peter Panas. The brokers involved in the transaction were Alexandra Bichoupan and Jonathan Rossland.
On the Map
$4,850,000
$27/SF
MultiFamily
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Players
Woodside 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
3.27%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93