Bo Xian Acquires Multifamily Property In Woodhaven For $1.44M
75-04 88th Avenue, Queens, New York 11421, United States
$1,440,000
$480/SF
Building Size
3,000 SF
Asset Type
MultiFamily
Closing
May 4, 2022
AI
Located at 75-04 88th Ave in Woodhaven, this property is a multifamily asset with 2 units and a total of 3,000 square feet. The sale was completed on 05/05/2022, with a sale price of $1,440,000. The per unit price was $720,000, and the price per square foot was $480. The buyer, Bo Xian, acquired the property from Kingsland Properties, with the deal facilitated by brokers Ali Rashid and Sultan Rashid from Kingsland Properties.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,440,000
- Units: 2
- PPU: $720,000
- Square Footage: 3,000
- PPSF: $480
- Market: Woodhaven
- Buyer: Bo Xian
- Seller: Kingsland Properties
- Brokers: Ali Rashid & Sultan Rashid - Kingsland Properties
Players
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
11.02%
Cash-on-Cash
-3.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93