Ink Property Group Acquires Multifamily Property In Long Island City For $6.3M
SOLD
New York
See Similar DealsMultiFamily16,400 SF
Sold 04/25/2018
SOLD
Ink Property Group Acquires Multifamily Property In Long Island City For $6.3M
48-11 45th St, Flushing, NY 11377, USA & 48-11 45th St, Flushing, NY 11377, USA
See Similar DealsMultiFamily16,400 SF
Sold 04/25/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$0
Total Square Footage:16,400 SF
Transaction Type:Sale
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.
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Operating Income
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Net Operating Income (NOI)
$0.00
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Cap Rate
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Cash Flow (Annual)$0.00
Cash-on-Cash Return0.00%
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