John Hale III Of Cornerstone Group Acquires Multifamily Building In Forest Hills For $15M
67 70 Yellowstone Boulevard
$15,000,000
$126/SF
Building Size
118,800 SF
Asset Type
MultiFamily
Closing
Jan 21, 2026
AI
A multifamily residential elevator building located at 67-70 Yellowstone Boulevard in Forest Hills, Queens, was sold for $15 million. The building comprises 109 units and has a building square footage of 122,677, resulting in a price per building square foot of $122. The total square footage of the property is 118,800, leading to a price per square foot of $126.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,000,000
- Buyer: John Hale III - Cornerstone Group
- Seller: 67-70 Realty Co., LLC
- Building Square Footage: 122,677
- Price per Building Square Foot: $122
- Total Square Footage: 118,800
- Price per Square Foot: $126
- Date of Sale: January 21, 2026
John Hale III represented Cornerstone Group in the purchase of the property through Yellowstone 6770 LLC from the seller 67-70 Realty Co., LLC. This transaction highlights the active involvement of Cornerstone Group in acquiring residential properties in the Queens market.
Players
Forest Hills 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93