Franklin Binns Acquires 2-Unit Multifamily In Astoria For $1.4M
SOLD
$1,394,350
New York
See Similar DealsMultiFamily1,802 SF
Sold 04/29/2022
SOLD
Franklin Binns Acquires 2-Unit Multifamily In Astoria For $1.4M
48-20 Ditmars Boulevard, Queens, New York 11105, United States
See Similar DealsMultiFamily1,802 SF
Sold 04/29/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$773
Total Square Footage:1,802 SF
Transaction Type:Sale
Located at 48-20 Ditmars Blvd. in Astoria, this multifamily property has recently been sold. The transaction took place on 04/29/2022, with a sale price of $1,394,350. The property consists of 2 units, with a total area of 1,802 square feet. The price per unit is $697,175, and the price per square foot is $773.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,394,350
- Address: 48-20 Ditmars Blvd.
- Market: Astoria
In this transaction, Franklin Binns acted as the buyer, while Marie Sarchese was the seller. Yanitzel Rivera from Douglas Elliman represented the buyer, and Costa Vryonides from Bouklis Group Inc. represented the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,365.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,953.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,609.93
Annual Debt Service$79,319.16
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