Updated Oct 28, 2024
Mortar Group Acquires Multifamily Property In Sunnyside For $1.4M
47-32 48th Street, Queens, New York 11377, United States
$1,425,000
$323/SF
Building Size
4,400 SF
Asset Type
MultiFamily
Closing
Mar 29, 2022
About this deal
AI
The multifamily property located at 47-32 48th St. in the Sunnyside market has been sold for a price of $1,425,000. The property consists of 6 units, with a price per unit of $237,500. The total square footage of the property is 4,400, resulting in a price per square foot of $323. The sale took place on 03/30/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,425,000
- Buyer: Mortar Group
- Seller: Bastiani Family
- Broker: Matt Fotis - Marcus & Millichap
- Address: 47-32 48th St.
- Market: Sunnyside
- Units: 6
- Price per Unit: $237,500
- Total Square Footage: 4,400
- Price per Square Foot: $323
Matt Fotis from Marcus & Millichap represented the buyer, Mortar Group, and facilitated the sale of this multifamily property.
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
11.13%
Cash-on-Cash
-3.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93