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48-36 41st St, Long Island ...

@PeakCapitalRE And @DavidGomezNYC Acquire Multifamily Property In Sunnyside, Queens For $1.785M
SOLDMultiFamily

@PeakCapitalRE And @DavidGomezNYC Acquire Multifamily Property In Sunnyside, Queens For $1.785M

48-36 41st St, Long Island City, NY 11104, USA

$1,785,000

$35/SF

Building Size

50,000 SF

Asset Type

MultiFamily

Closing

May 23, 2019

AI

The multifamily property located at 48-36 41st Street in Sunnyside, Queens, was initially listed with an asking price of $2,000,000. The final sale price was recorded at $1,785,000, with a total square footage of 5,000, resulting in a price per square foot of $357.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $1,785,000
  • Address: 48-36 41st Street
  • Market: Sunnyside, Queens
  • Asking Price: $2,000,000
  • Square Footage: 5,000
  • Price per Square Foot: $357
  • Seller: Tony Cancaro
  • Buyer: Peak Capital, David Gomez
  • Brokers: Peter Von Der Ahe, Dylan Walsh, Shaun Riney, Max Belinsky

The deal saw representation from brokers Peter Von Der Ahe, Dylan Walsh, Shaun Riney, and Max Belinsky, who facilitated the transaction, showcasing their expertise in navigating the multifamily market in Queens.

Players

David Gomez

Peak Real Estate

Broker

$402.3M

vol

71 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.8B

vol

358 deals

Broker
David Gomez

David Gomez

Peak Capital Advisors

Buyer

$402.3M

vol

71 deals

Buyer

Sunnyside MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.89%

Cash-on-Cash

-2.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93