Updated Aug 24, 2026
Papafloratos Family Acquires 100% Rent-Stabilized Multifamily Asset From Dionysiou Family For $2,475,000
48-08 108th Street
$2,475,000
$156/SF
Building Size
15,780 SF
Asset Type
MultiFamily
Closing
Aug 12, 2026
About this deal
AI
The property involved in the transaction is a multifamily asset located at 48-08 108th Street, Corona. It was sold for $2,475,000 and encompasses a total square footage of 15,780, resulting in a price per square foot of $156.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,475,000
- Location: 48-08 108th Street, Corona
- Square Footage: 15,780
- Price Per Square Foot: $156
- Buyer: Papafloratos Family
- Seller: Dionysiou Family
- Broker: Shaun Riney, Sean Fopeano & David Cornejo - Marcus & Millichap
NYM Group facilitated the transaction, highlighting the asset's 100% rent-stabilized status and additional cell tower income. The seller's counsel was Triades & Traides LLP, while the buyer's counsel was Coritsidis & Lambros, PLLC.
Players
Corona 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
6.41%
Cash-on-Cash
-1.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93