Updated Dec 21, 2023
Franklin Binns Acquires 2-Unit Multifamily In Astoria For $1.4M
48-20 Ditmars Boulevard, Queens, New York 11105, United States
$1,394,350
$773/SF
Building Size
1,802 SF
Asset Type
MultiFamily
Closing
Apr 28, 2022
About this deal
AI
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.
On the Map
$1,394,350
$773/SF
MultiFamily
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Queens 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
11.38%
Cash-on-Cash
-3.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93