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
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