TriArch Real Estate Group Acquires Multifamily Property In Astoria For $7.3M
SOLD
$7,300,000
New York
See Similar DealsMultiFamily14,400 SF
Sold 04/04/2022
SOLD
TriArch Real Estate Group Acquires Multifamily Property In Astoria For $7.3M
43-18 25th Avenue, Queens, New York 11103, United States
See Similar DealsMultiFamily14,400 SF
Sold 04/04/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$506
Total Square Footage:14,400 SF
Transaction Type:Sale
Located at 43-18 25th Avenue in Astoria, this multifamily property was recently sold in a closed transaction. The property consists of 14 units, offering a spacious living space for its residents. The sale price for this property was $7,300,000, making it a lucrative investment opportunity.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,300,000
- Address: 43-18 25th Avenue
- Market: Astoria
The buyer in this transaction was TriArch Real Estate Group, while the seller was 43-18 25th Ave LLC. The property spans across 14,400 square feet, resulting in a price per square foot of $506. With its prime location in Astoria and its attractive price, this property presented an excellent investment opportunity for both the buyer and the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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