Mortar Group Acquires Multifamily Property In Sunnyside For $1.4M
SOLD
$1,425,000
New York
See Similar DealsMultiFamily4,400 SF
Sold 03/30/2022
SOLD
Mortar Group Acquires Multifamily Property In Sunnyside For $1.4M
47-32 48th Street, Queens, New York 11377, United States
See Similar DealsMultiFamily4,400 SF
Sold 03/30/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$323
Total Square Footage:4,400 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$76,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,062.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,755.23
Annual Debt Service$81,062.72
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