Updated Oct 29, 2024
Lou Sbuttoni's Fuller Street Realty Acquires Multifamily Property In Flushing, Queens For $6.35M
42-41 155th St, Flushing, Queens County, NY, USA
$6,350,000
$245/SF
Building Size
25,840 SF
Asset Type
MultiFamily
Closing
Mar 16, 2021
About this deal
AI
A multifamily property located at 42-41 & 42-45 155th St. in Flushing, Queens has been sold for $6,350,000. The property consists of 34 units with a price per unit of $187,000. The total square footage of the property is 25,840, resulting in a price per square foot of $246.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,350,000
- Address: 42-41 & 42-45 155th St., Flushing, Queens
- Market: Flushing, Queens
- Buyer: Lou Sbuttoni - Fuller Street Realty
- Seller: Frank Viola
- Brokers: Stephen R. Preuss, Kevin Schmitz, and Kevin Louie
- Units: 34
- Price per Unit: $187,000
- Total Square Footage: 25,840
- Price per Square Foot: $246
Lou Sbuttoni, representing Fuller Street Realty, acted as the buyer in the transaction. The seller of the property is Frank Viola. The brokers involved in the deal were Stephen R. Preuss, Kevin Schmitz, and Kevin Louie of Team Preuss.
Players
New York 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
2.50%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93