Updated Sep 9, 2024
Samuel Ellison Acquires Ridgewood Multifamily For $1.3M
60-05 70th Ave Queens, NY 11385, USA
$1,300,000
$599/SF
Building Size
2,168 SF
Asset Type
MultiFamily
Closing
Aug 7, 2023
About this deal
AI
The multifamily property located at 60-05 70th Avenue in Ridgewood, Queens has been sold for $1,300,000. The property consists of 2 units with an average price per unit of $650,000. Spanning across 2,168 square feet, the property was sold at a price per square foot of $600.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,300,000
- Units: 2
- Price per Unit: $650,000
- Square Footage: 2,168
- Price per Square Foot: $600
- Address: 60-05 70th Avenue, Ridgewood, Queens
The buyer of the property is Samuel Ellison, who was represented by Daniel Barcelowsky from Evergreen Realty & Investments. On the other hand, Emma Barattini, the seller, was represented by Sumi Vatsa from Compass.
Players
Market 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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93