PEAK Capital Acquires Multifamily Property In Hunters Point From Joseph Palumbo For $2.6M
SOLD
$2,600,000
New York
See Similar DealsMultiFamily4,975 SF
Sold 12/24/2021
SOLD
PEAK Capital Acquires Multifamily Property In Hunters Point From Joseph Palumbo For $2.6M
45 Vernon Boulevard, Queens, New York 11101, United States
See Similar DealsMultiFamily4,975 SF
Sold 12/24/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$522
Total Square Footage:4,975 SF
Transaction Type:Sale
A multifamily property located at 45-42 Vernon Blvd in Hunters Point has been sold. The property consists of 6 units with a total square footage of 4,975. The sale price was $2,600,000, resulting in a price per unit of $433,333 and a price per square foot of $522.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,600,000
- Address: 45-42 Vernon Blvd
- Market: Hunters Point
- Buyer: PEAK Capital - Alex Rabin & David Gomez
- Seller: Joseph Palumbo
- Broker: Paul Youssef - Marcus & Millichap
The buyer of the property is PEAK Capital, represented by Alex Rabin and David Gomez. The seller is Joseph Palumbo. The transaction was facilitated by Paul Youssef from Marcus & Millichap. In this off-market purchase, all units were delivered vacant at closing. PEAK Capital, with their new capital sources, is actively seeking new investment opportunities and encourages interested parties to contact them at [email protected].
Players
BROKERAGE
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$138,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
Annual Debt Service$147,903.92
Is there something missing? Send suggestions