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Dimitris Vattes Sells MultiFamily Property In Richmond Hill For $3.2M

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SOLD
$3,200,000
Shlomo Antebi
Erik Yankelovich
+ 2

New York

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MultiFamily16,281 SF
Sold
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Property Image
SOLD

Dimitris Vattes Sells MultiFamily Property In Richmond Hill For $3.2M

85-29 114th Street

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MultiFamily16,281 SF
Sold
Shlomo Antebi
Erik Yankelovich
+ 2
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$196
Total Square Footage:16281 SF
Transaction Type:Sale

The recently sold property in Richmond Hill at 85-29 114th Street is a multifamily asset consisting of 16 units. The property was sold by Dimitris Vattes for a price of $3,200,000, resulting in a per unit price of $200,000. The total square footage of the property is 16,281, making the price per square foot $197. Located in the Richmond Hill market, this multifamily property offers a lucrative investment opportunity.

Summary of transaction details

The sale of this multifamily property was facilitated by Yosef Katz, Shlomo Antebi, Erik Yankelovich, and Elli Khafizov from Atlas Realty Group. Their expertise and negotiation skills played a significant role in the successful completion of this transaction. This sale demonstrates the strong presence of Atlas Realty Group in the Richmond Hill market, showcasing their ability to handle multimillion-dollar deals with utmost professionalism.

Players

Elli Khafizov
10 deals$38.9M volume(212) 419-8067
BROKER

Erik Yankelovich
Atlas Realty Group
124 deals$1B volume
BROKER

Yosef Katz
Atlas Realty Group
130 deals$1.1B volume
BROKER

Shlomo Antebi
Atlas Realty Group
135 deals$994.4M volume
BROKER

Dimitris Vattes
6 deals$36.7M volume
SELLER

Details

SOLD
IMAGE: Shlomo Antebi, Yosef Katz, Erik Yankelovich & Elli Khafizov DATE: 09/12/2023 ADDRESS: 85-29 114th Street MARKET: Richmond Hill ASSET TYPE: MultiFamily SELLER: Dimitris Vattes (@JVattes16) BROKERS: Yosef Katz (@Katz.Yosef), Shlomo Antebi, Erik Yankelovich (@Eriky79) & Elli Khafizov (@Elli_Khaf) - Atlas Realty Group (@ARG_NYC) SALE PRICE: $3,200,000 UNITS: 16 ~ PPU: $200,000 SF: 16,281 ~ PPSF: $197

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$170,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59