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87-17 Home Lawn Street

Ridwan Kabir Acquires Multifamily Property In Jamaica Estates, Queens For $4.4M
SOLDMultiFamily

Ridwan Kabir Acquires Multifamily Property In Jamaica Estates, Queens For $4.4M

87-17 Home Lawn Street

$4,400,000

$298/SF

Building Size

14,719 SF

Asset Type

MultiFamily

Closing

Sep 28, 2023

AI

An investor represented by Ridwan Kabir, of Panchgaon Realty LLC, recently purchased two 12-unit walkup properties located at 87-17 Home Lawn Street in Jamaica Estates, Queens. The properties were acquired from Mohammed Nuruddin and Mirza Rahman through 87-13 Homelawn Realty LLC for a total of $4.4 million. This multifamily asset offers a total of 12 units, resulting in a price per unit of approximately $366,667. The property spans a total area of 14,719 square feet, with a price per square foot of $299.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,400,000
  • Number of Units: 12
  • Price Per Unit: $366,667
  • Total Square Footage: 14,719
  • Price Per Square Foot: $299
  • Address: 87-17 Home Lawn Street, Jamaica Estates, Queens

Ridwan Kabir, representing Panchgaon Realty LLC, played a key role in the acquisition of these properties, which are situated in the sought-after market of Jamaica Estates, Queens. This successful transaction highlights the ongoing real estate activity in the area and the opportunities available for investors in multifamily assets.

Players

Ridwan Kabir

Buyer

$17.7M

vol

3 deals

Buyer

Jamaica 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

3.61%

Cash-on-Cash

-1.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93