Updated Dec 19, 2023
Douglas Eisenberg, Aaron Jungreis, Azi Mandel, And Adam Mermelstein Acquire Multi-Family Properties In Queens And Elmhurst For $118.5M
41-40 Denman St, Queens, NY 11373, USA
Building Size
3,750,000 SF
Asset Type
MultiFamily
Closing
May 27, 2018
About this deal
AI
The multi-family properties located at 41-40 Denman Street in Elmhurst and 132-25 Maple Avenue, 132-48 41st Road, 132-45 Maple Avenue, 132-57 Sanford Avenue, and 132-61 Sanford Avenue in Flushing, New York, have been sold for a total price of $118,500,000. The properties span approximately 375,000 square feet in total.
Summary of transaction details
- Property Type: Multi-Family
- Transaction Amount: $118,500,000
- Address: 41-40 Denman Street, Elmhurst, and 132-25 Maple Avenue, 132-48 41st Road, 132-45 Maple Avenue, 132-57 Sanford Avenue, and 132-61 Sanford Avenue, Flushing, New York
- Market: Queens and Elmhurst
The deal was facilitated by Douglas Eisenberg, Aaron Jungreis, Azi Mandel, and Adam Mermelstein. They represented the parties involved in this transaction.
On the Map
MultiFamily
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Queens 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