Updated Dec 21, 2023
Flo Panescu Acquires Astoria Multifamily For $2.2M
43-07 31st Avenue, Queens, New York 11103, United States
$2,200,000
$386/SF
Building Size
5,686 SF
Asset Type
MultiFamily
Closing
May 18, 2022
About this deal
AI
Located at 43-07 31st Avenue in Astoria, this multifamily property was recently sold for a total price of $2,200,000. The property consists of 8 units, with a price per unit of $275,000. The total square footage of the property is 5,686, resulting in a price per square foot of $386.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Units: 8
- Price per Unit: $275,000
- Square Footage: 5,686
- Price per Square Foot: $386
The buyer of this property is Flo Panescu, while Henry Parciak is the seller. The deal was facilitated by brokers Jessie Lookfong, Robert Napolitano, and Agata Landa from Capri Jet Realty, located at 533 Metropolitan Avenue in Williamsburg.
Note from Capri Jet Realty: Capri Jet Realty has over 30 years of experience in the sale of multifamily properties, mixed-use investment properties, and development sites.
On the Map
$2,200,000
$386/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93