Abdul Khan Purchases Woodside Multifamily From Stella Lee For $1,000,000 With Marcus & Millichap

The property involved in this transaction is a multifamily asset located at 47-49 44th Street in the Woodside market. The sale price was $1,000,000, with a total square footage of 5,148, resulting in a price per square foot of $194.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,000,000
• Address: 47-49 44th Street
• Market: Woodside
• Square Footage: 5,148
• Price Per Square Foot: $194
• Buyer: Abdul Khan
• Seller: Stella Lee
• Brokers: Shaun Riney, Sean Fopeano & David Cornejo - Marcus & Millichap

NYM Group was exclusively retained to sell this asset after 50 years of family ownership. The brokers, having noted continued political challenges within the rent stabilized market, expressed optimism regarding the multifamily asset class.