David Lansey Acquires Multifamily Property In South Queens For $8.7M
SOLD
$8,725,000
+ 3
New York
See Similar DealsMultiFamily24,480 SF
Sold 11/29/2018
SOLD
David Lansey Acquires Multifamily Property In South Queens For $8.7M
87-16 Winchester Boulevard, Queens, NY, USA
See Similar DealsMultiFamily24,480 SF
Sold 11/29/2018
+ 3
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$356
Total Square Footage:24,480 SF
Transaction Type:Sale
An $8,725,000 multifamily property located at 87-16 Winchester in South Queens was recently sold. This property spans across approximately 24,480 square feet, with a price per square foot of $356. The transaction involved a total of 48 units, with an average price per unit of $181,770.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,725,000
- Square Footage: 24,480
- Price Per Square Foot: $356
- Address: 87-16 Winchester
- Market: South Queens
- Seller: David Eshaghoff (@david.esh)
- Buyer: David Lansey
- Brokers: Peter Von Der Ahe, Joe Koicim, Dylan Walsh, Shaun Riney (@newyorkmultifamily)
The deal was facilitated by brokers Peter Von Der Ahe, Joe Koicim, Dylan Walsh, and Shaun Riney from New York Multifamily, representing the involved parties in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$465,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,998.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,360.95
Annual Debt Service$496,331.42
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