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60-16 76th Street, Queens, ...

Jun Wu Acquires Multifamily Property In Middle Village, Queens For $890K
SOLDMultiFamily

Jun Wu Acquires Multifamily Property In Middle Village, Queens For $890K

60-16 76th Street, Queens, New York 11379, United States

$890,000

$494/SF

Building Size

1,800 SF

Asset Type

MultiFamily

Closing

May 3, 2022

AI

A multifamily property located at 60-16 76th St. in Middle Village, Queens was recently sold for $890,000. The property spans across 1,800 square feet, resulting in a price per square foot of $494. Joseph Jacobs of R New York represented both the buyer, Jun Wu, and the seller, Phil Masullo, in this transaction.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $890,000
  • Date: 05/04/2022
  • Address: 60-16 76th St.
  • Market: Middle Village, Queens

This transaction was facilitated by Joseph Jacobs and Fabiano Proa, both brokers from R New York. They successfully represented both parties involved in the sale of this multifamily property.

Players

Joseph Jacobs

Voro Real Estate

Broker

$182.1M

vol

4 deals

Broker

New York 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

17.82%

Cash-on-Cash

-5.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93