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42-15 College Point Bouleva...

Updated Dec 21, 2023

Warren Switzler Acquires Apartment Building In Downtown Flushing, Queens For $3.36M
SOLDMultiFamily

Warren Switzler Acquires Apartment Building In Downtown Flushing, Queens For $3.36M

42-15 College Point Boulevard, Queens, New York 11355, United States

$3,360,000

$73/SF

Building Size

45,871 SF

Asset Type

MultiFamily

Closing

Jul 14, 2022

About this deal

AI

An apartment building located at 42-15 College Point Blvd in Downtown Flushing, Queens has been sold. The property, with a total square footage of 45,871, was sold for a price of $3,360,000. The building has a buildable square footage of 37,405, resulting in a price per buildable square foot of $89. With a lot size of 15,393, the property has a floor area ratio (FAR) of 2.98. The zoning for this property is R6. The tax class is 2. The property has previously obtained permits for alteration 2 on August 3, 2018. The lot dimension is measured at 137 feet by 130 feet.

Summary of Transaction Details

  • Property Type: Apartment Building
  • Transaction Amount: $3,360,000
  • Market: Downtown Flushing, Queens
  • Zoning: R6

The buyer of the property is Warren Switzler, while Sinclair Haberman is the seller. It is important to note that the transaction took place on July 15, 2022.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $73 per square foot on a published $3.4M for 45,871 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.72%

Cash-on-Cash

-1.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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