Updated Mar 16, 2026
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
About this deal
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.
On the Map
$3,600,000
$553/SF
MultiFamily
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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