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5-13 47th Road

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

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

$18,443,000

$450/SF

Building Size

40,983 SF

Asset Type

MultiFamily

Closing

Mar 22, 2024

AI

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

Danny Li

Compass Inc.

Broker

$506M

vol

3 deals

Broker

Long Island City 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

0.86%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93