Updated Oct 25, 2024
David Lansey Acquires Multifamily Property In South Queens For $8.7M
87-16 Winchester Boulevard, Queens, NY, USA
$8,725,000
$356/SF
Building Size
24,480 SF
Asset Type
MultiFamily
Closing
Nov 28, 2018
About this deal
AI
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.
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
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93