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
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