Updated May 12, 2026
Leslie Feder Acquires Richmond Hill Multifamily Property From Koenig Family For $2.6M
87-87 116th Street
$2,600,000
$141/SF
Building Size
18,400 SF
Asset Type
MultiFamily
Closing
Apr 29, 2026
About this deal
AI
A 24-unit multifamily property located at 87-87 116th Street in Richmond Hill was sold for $2,600,000, equating to $141 per square foot. The total square footage of the property is 18,400, and it was delivered 100% vacant at closing after 48 years of ownership by the seller.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,600,000
- Address: 87-87 116th Street
- Market: Richmond Hill
- Square Footage: 18,400
- Price per Square Foot: $141
- Buyer: Leslie Feder
- Seller: Koenig Family
- Brokerage: Marcus & Millichap
- Broker Representatives: Shaun Riney, Sean Fopeano & David Cornejo
The NYM Group at Marcus & Millichap exclusively handled the sale of this property, and the deal team can be contacted to discuss current inventory or potential sales of assets.
On the Map
$2,600,000
$141/SF
MultiFamily
View full map
Players
Richmond Hill MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Sean Fopeano to view all their deals.
Browse Richmond Hill multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93