Amy Li Acquires 6-Unit Multifamily In Long Island City For $1.5M

A multifamily property located at 543 47th Rd. in Long Island City has been sold for $1,500,000. The property consists of 6 units, with a price per unit of $250,000. The total square footage of the property is 3,900, resulting in a price per square foot of $384. The capitalization rate for the property is 4.7%, fully rented and stabilized.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,500,000
• Units: 6
• Price Per Unit: $250,000
• Square Footage: 3,900
• Price Per Square Foot: $384
• Capitalization Rate: 4.7%
• Market: Long Island City

The buyer of the property is Amy Li, while the seller is Fengping Yang. The transaction was facilitated by Lina Shi from S10 Realty Group LLC, representing both the buyer and seller.