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9-03 35th Avenue

Benaim X Partners Sells Astoria Multifamily For $2.7M With Modern Spaces As The Broker
SOLDMultiFamily

Benaim X Partners Sells Astoria Multifamily For $2.7M With Modern Spaces As The Broker

9-03 35th Avenue

$2,700,000

$167/SF

Building Size

16,157 SF

Asset Type

MultiFamily

Closing

Dec 16, 2023

AI

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.

Players

Evan Daniel

Modern Spaces

Broker

$347.5M

vol

65 deals

Broker

Astoria 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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93