Abdul Aziz Purchases Multifamily Property From Zeng Shao In Long Island City For $3.6M
SOLD
$3,600,000
New York
See Similar DealsMultiFamily6,500 SF
Sold
SOLD
Abdul Aziz Purchases Multifamily Property From Zeng Shao In Long Island City For $3.6M
5-42 51st Avenue
See Similar DealsMultiFamily6,500 SF
Sold
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$553
Total Square Footage:6500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$192,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04
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