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60-16 86th Street

Rodney Javidnia & Ryan Javidnia Acquire Multifamily Property In Middle Village For $2.775M
SOLDMultiFamily

Rodney Javidnia & Ryan Javidnia Acquire Multifamily Property In Middle Village For $2.775M

60-16 86th Street

$2,775,000

$378/SF

Building Size

7,331 SF

Asset Type

MultiFamily

Closing

Aug 18, 2022

AI

The recently closed property transaction in Middle Village involved a multifamily asset located at 60-16 86th St. The property spans a total area of 7,331 square feet and was sold for a price of $2,775,000, resulting in a price per square foot of $378. The transaction took place on 08/18/2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,775,000
  • Address: 60-16 86th St.
  • Market: Middle Village

The buyer of the property is Rodney Javidnia and Ryan Javidnia, while the seller is Michael Pescatore. The deal was facilitated by brokers Jakub Nowak, Jonathan Eshaghian, and Matt Rosenzweig from The Nowak Group, who represented the buyer and seller in this transaction. The brokers are affiliated with Marcus & Millichap.

To learn more about the unique challenges involved in the sale of your commercial property, you can contact the experts at The Nowak Group. Jakub Nowak can be reached at 718-475-4353, and Matt Rosenzweig can be reached at 718-475-4366.

Players

Jonathan Eshaghian

Isaacson Real Estate

Broker

$170.1M

vol

19 deals

Broker

Michael Pescatore

Seller

$2.8M

vol

2 deals

Seller

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

5.72%

Cash-on-Cash

-1.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93