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GFI Realty Services Sells 36-Unit Multifamily Building In Richmond Hill, Queens For $5.095M

Property Image
SOLD
$5,095,000
Ohad Babo
YM

New York

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MultiFamily
Sold 05/11/2023
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Property Image
SOLD

GFI Realty Services Sells 36-Unit Multifamily Building In Richmond Hill, Queens For $5.095M

86-21 112th St Richmond Hill, NY 11418, USA

See Similar Deals
MultiFamily
Sold 05/11/2023
Ohad Babo
YM
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale

A 36-unit multifamily building located at 86-21 112th St in Richmond Hill, Queens has been sold for $5.095 million. The building, which was constructed in 1952, consists of 18 one-bedroom apartments and 18 two-bedroom apartments. It is conveniently situated near subway lines and commercial areas.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $5.095 million
  • Units: 36
  • Apartments: 18 one-bedroom, 18 two-bedroom
  • Year Built: 1952
  • Location: 86-21 112th St, Richmond Hill, NY 11418, USA

GFI Realty Services, a real estate brokerage firm, facilitated the sale of this multifamily building. The property is in close proximity to subway lines and commercial areas, making it an attractive investment.

Players

Ohad Babo
Kassin Sabbagh Realty
Ohad Babo
20 deals$192.7M volume(212) 837-4529
BROKER
YM
GFI Realty Services
Yosef Magarefth
1 deal$5.1M volume
BROKER

Details

SOLD
IMAGE: 2023-05-11 ADDRESS: 86-21 112th St Richmond Hill, NY 11418, USA MARKET: ASSET TYPE: MultiFamily BUYER: SELLER: BUYER'S REP: SELLER'S REP: BROKERS: SALE PRICE: 5095000.0 UNITS: ~ PPU: Infinity$ SF: 0 PPSF: Infinity$ NOTE: Real estate brokerage firm GFI Realty Services announced the sale of a 36-unit multifamily building located in the Richmond Hill area of Queens for $5.095 million. The building, constructed in 1952, contains 18 one-bedroom apartments and 18 two-bedroom apartments and is in close proximity to subway lines and commercial areas.

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

$271,733.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,101.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,152.90
Annual Debt Service$289,834.79