Updated Dec 19, 2023
Michael Ho & Sau Wan Ho Acquires Multifamily In Hunters Point, Queens For $4.3M
18 Vernon Boulevard, Queens, New York 11101, United States
$4,275,000
$814/SF
Building Size
5,250 SF
Asset Type
MultiFamily
Closing
Apr 28, 2022
About this deal
AI
The property located at 47-18 Vernon Boulevard in Hunters Point, Queens has been sold in a recent transaction. The multifamily asset is situated on a lot size of 2,500 square feet and has a building square footage (BSF) of 7,500. The property's zoning allows for various uses, including R6A, C1-5, and LIC.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $4,275,000
- Market: Hunters Point, Queens
The buyer of the property is Michael Ho & Sau Wan Ho, while Jessica R. Brenner served as the seller. The sale price for this transaction was $4,275,000, with a price per building square footage (PPBSF) of $570. The property spans across 5,250 square feet, resulting in a price per square footage (PPSF) of $814. The property falls under tax class 2A and has a floor area ratio (FAR) of 2.10.
Notable details include a lot dimension of 25 ft x 100 ft and an alteration permit issued on 02/15/2013.
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
3.71%
Cash-on-Cash
-1.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93