Updated Oct 29, 2024
Somekh Group Acquires Multifamily Property In Bayside, Queens For $4.8M
39-30 214th Pl, Queens, NY 11361, USA & 39-30 214th Pl, Queens, NY 11361, USA
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Apr 29, 2018
About this deal
AI
Entrepreneur Properties, represented by Mo Ibrahim, recently closed on the sale of a multifamily property located at 39-30 214 Place in Bayside, Queens. The property is situated in the vibrant market of Bayside and offers a total of 10,000 square feet of space.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,800,000
- Price per Square Foot: $480
- Price per Unit: $400,000
- Seller: Apostolos Anagnostopoulos
- Buyer: Somekh Group
This successful transaction was facilitated by Mo Ibrahim of Entrepreneur Properties. Through their expertise and guidance, the seller, Apostolos Anagnostopoulos, was able to sell the property to the buyer, Somekh Group, for the agreed-upon amount.
On the Map
MultiFamily
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New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93