Peter Panas Acquires Woodside, Queens Multifamily For $4.85M

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.