Ink Property Group Acquires Multifamily Property In Long Island City For $6.3M

Located at 48-11 45th Street in New York's Long Island City, this multifamily property has been sold in a closed transaction. The property consists of 23 units with an average price per unit of $270,000, resulting in a total sale price of $6,300,000. The property has a 4.75% capitalization rate, making it an attractive investment opportunity.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,300,000
• Number of Units: 23
• Price Per Unit: $270,000
• Capitalization Rate: 4.75%

The property was sold by Peter Chin and the buyer is Ink Property Group, represented by Eden Ashourzadeh and Alex Kahen. The transaction was facilitated in-house by Ryan Kaydanian, who sourced the brokers for the deal.