The Jiang Family Acquires Multifamily Asset At 5-34 47th Road In Long Island City For $1.575M

The multifamily property located at 5-34 47th Road in Long Island City was sold for $1,575,000. The asset consists of 6 units, totaling 4,125 square feet, with a price per unit of $262,500 and a price per square foot of $381.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,575,000
• Units: 6
• Square Footage: 4,125
• Price per Unit: $262,500
• Price per Square Foot: $381
• Buyer: The Jiang Family
• Brokers: Shaun Riney, David Cornejo, Sean Fopeano & Louis Zarif - Marcus & Millichap

The transaction involved key representations from Marcus & Millichap with Shaun Riney, David Cornejo, Sean Fopeano, and Louis Zarif participating in the deal. Their involvement highlights the professional expertise behind this property acquisition.