Benaim X Partners Sells Astoria Multifamily For $2.7M With Modern Spaces As The Broker
SOLD
$2,700,000
New York
See Similar DealsMultiFamily16,157 SF
Sold 12/16/2023
SOLD
Benaim X Partners Sells Astoria Multifamily For $2.7M With Modern Spaces As The Broker
9-03 35th Avenue
See Similar DealsMultiFamily16,157 SF
Sold 12/16/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$167
Total Square Footage:16,157 SF
Transaction Type:Sale
The recently closed property transaction in Astoria, Queens involved a multifamily asset located at 9-03 35th Avenue. This property spans 16,157 square feet and was sold for $2,700,000, resulting in a price per square foot of $167. The asset consists of 15 units, with each unit valuing at approximately $180,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,700,000
- Square Footage: 16,157
- Price Per Square Foot: $167
- Address: 9-03 35th Avenue
- Market: Astoria, Queens
The seller in this transaction was Eric Benaim from Benaim x Partners. Evan Daniel, representing Modern Spaces, acted as the broker in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$144,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53
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