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Christina DeCurtis & Danny Li Of Modern Spaces Facilitate $18,443,000 Sale Of Multifamily In Hunters Point

Property Image
SOLD
$18,443,000

New York

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MultiFamily40,983 SF
Sold 03/22/2024
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SOLD

Christina DeCurtis & Danny Li Of Modern Spaces Facilitate $18,443,000 Sale Of Multifamily In Hunters Point

5-13 47th Road, 5-15 47th Road & 5-17 47th Road

See Similar Deals
MultiFamily40,983 SF
Sold 03/22/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$450
Total Square Footage:40,983 SF
Transaction Type:Sale

The multifamily property located at 5-13 47th Road, 5-15 47th Road & 5-17 47th Road in Hunters Point, Queens, was sold for $18,443,000. The property consists of 13 units with a total square footage of 13,661, equating to a price per unit of $1,418,692 and a price per square foot of $1,350.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $18,443,000
  • Units: 13
  • Price per Unit: $1,418,692
  • Square Footage: 13,661
  • Price per Square Foot: $1,350
  • Address: 5-13 47th Road, 5-15 47th Road & 5-17 47th Road, Hunters Point, Queens

Christina DeCurtis and Danny Li from Modern Spaces represented the parties in this transaction, showcasing their expertise in the real estate market of Hunters Point, Queens.

Players

3 deals$506M volume
BROKER

Details

SOLD
IMAGE: Christina DeCurtis & Danny Li DATE: 03/22/2024 ADDRESS: 5-13 47th Road, 5-15 47th Road & 5-17 47th Road MARKET: Hunters Point, Queens ASSET TYPE: Multifamily BROKERS: Christina DeCurtis (@TeamDeCurtis) & Danny Li (@DannyLiNYC) - Modern Spaces (@ModernSpaces) SALE PRICE: $18,443,000 UNITS: 13 ~ PPU: $1,418,692 SF: 13,661 ~ PPSF: $1,350

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$983,626.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$65,524.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,429.23
Annual Debt Service$1,049,150.75