Updated Dec 18, 2023
Gandolfo Difiore Acquires 16-Unit Multifamily In Astoria, Queens For $2.35M
40-09 25th Ave, Long Island City, NY 11103, USA
$2,350,000
$18/SF
Building Size
124,640 SF
Asset Type
MultiFamily
Closing
Dec 15, 2019
About this deal
AI
A multifamily property located at 40-09 25th Avenue in Astoria, Queens was recently sold. The property consists of 16 units with a total square footage of 12,464. The asking price for this property was $2,700,000, and it was sold for $2,350,000, resulting in a price per square foot of $188.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,350,000
- Address: 40-09 25th Avenue, Astoria, Queens
- Market: Astoria, Queens
- Square Footage: 12,464
- Asking Price: $2,700,000
- Seller: Frank Didero
- Buyer: Gandolfo Difiore
During the transaction, Rodney Nassimian from Highcap Group represented the buyer and the seller. The sale closed at an in-place cap rate of 4.5%. Additionally, two units were delivered vacant, providing potential opportunities for the new owner.
Players
Astoria 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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93