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5-42 51st Avenue

Abdul Aziz Purchases Multifamily Property From Zeng Shao In Long Island City For $3.6M
SOLDMultiFamily

Abdul Aziz Purchases Multifamily Property From Zeng Shao In Long Island City For $3.6M

5-42 51st Avenue

$3,600,000

$553/SF

Building Size

6,500 SF

Asset Type

MultiFamily

Closing

Mar 5, 2026

AI

This multifamily property located at 5-42 51st Avenue in Long Island City consists of 6 units and has a sale price of $3,600,000. The building spans 6,500 square feet, resulting in a price per unit of $600,000 and a price per square foot of $553.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,600,000
  • Units: 6
  • Square Footage: 6,500
  • Price Per Unit: $600,000
  • Price Per Square Foot: $553
  • Buyer: Abdul Aziz
  • Seller: Zeng Shao
  • Broker: Josh Goldflam - Highcap Group

The transaction was facilitated by broker Josh Goldflam, representing the involved parties. Abdul Aziz acquired the property from Zeng Shao in this transaction.

Players

Josh Goldflam

Highcap Group

Broker

$278.1M

vol

29 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

4.41%

Cash-on-Cash

-1.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93