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A&E Acquires Multifamily Property In Queens For $130M With Jack Bick As The Broker

Property Image
SOLD
$130,000,000

New York

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MultiFamily784,443 SF
Sold 02/24/2022
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Property Image
SOLD

A&E Acquires Multifamily Property In Queens For $130M With Jack Bick As The Broker

86-09 Grand Central Parkway, Queens, New York 11427, United States

See Similar Deals
MultiFamily784,443 SF
Sold 02/24/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$165
Total Square Footage:784,443 SF
Transaction Type:Sale

The multifamily property located at 86-09 Grand Central Pky in Queens has been sold for $130,000,000. The property consists of 1,056 units, with a price per unit of $123,106. The total square footage of the property is 784,443, with a price per square foot of $165. The sale was conducted by Jack Bick of Charatan Realty, representing the buyer A & E, represented by Douglas Eisenberg, and the seller, The Benjamin Companies.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $130,000,000
  • Units: 1,056
  • Price Per Unit: $123,106
  • Square Footage: 784,443
  • Price Per Square Foot: $165
  • Address: 86-09 Grand Central Pky.
  • Market: Queens

Douglas Eisenberg, representing A & E, successfully acquired the property from The Benjamin Companies in this transaction. The deal was facilitated by broker Jack Bick of Charatan Realty.

Players

Jack Bick
9 deals$631.3M volume
BROKER

SELLER

Details

SOLD
IMAGE: Jack Bick DATE: 02/24/2022 ADDRESS: 86-09 Grand Central Pky. MARKET: Queens ASSET TYPE: Multifamily BUYER: A & E - Douglas Eisenberg SELLER: The Benjamin Companies BROKER: Jack Bick - Charatan Realty SALE PRICE: $130,000,000 UNITS: 1,056 ~ PPU: $123,106 SF: 784,443 ~ PPSF: $165

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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$461,862.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$616,266.32
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