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48-20 Ditmars Boulevard, Qu...

Franklin Binns Acquires 2-Unit Multifamily In Astoria For $1.4M
SOLDMultiFamily

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

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.

Players

Yanitzel Rivera

Douglas Elliman

Broker

$1.4M

vol

1 deal

Broker

New York 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