SOLD
Kenny Huang Acquires East Elmhurst Multifamily Property For $53M
90-10 Ditmars Boulevard
MultiFamily
189,250 SF
189,250 SF
Sold 1 year ago
Summary
Sale
NEW YORK
MultiFamily
189,250 sqft
Located at 90-10 Ditmars Boulevard in East Elmhurst, Queens, this recently sold multifamily property has drawn attention from buyers. The property, spread over nearly 3.5 acres, features 288 units and has been closed for nearly 5 years. The proximity to LaGuardia Airport adds to its appeal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $53,000,000
- Units: 288
- Price per Unit: $184,028
- Square Footage: 189,250
- Price per Square Foot: $280
- Market: East Elmhurst, Queens
Kenny Huang successfully acquired the property from Heyman Enterprises. The deal was facilitated by Stephen R. Preuss Sr., Kevin Louie, Andreas Efthymiou, and Kevin Schmitz from Ripco. With plans to redevelop the property, the buyer aims to breathe new life into this shuttered building.
Players
All
5
Agents
4
Agencies
1
Details
SOLD
IMAGE: Stephen R. Preuss Sr., Kevin Louie, Andreas Efthymiou & Kevin Schmitz
DATE: 12/15/2022
ADDRESS: 90-10 Ditmars Boulevard
MARKET: East Elmhurst, Queens
ASSET TYPE: Multifamily
BUYER: Kenny Huang
SELLER: Heyman Enterprises
BROKERS: Stephen R. Preuss Sr. (@RipcoInvestmentSales), Kevin Louie (@Kevin.Louie_Investment_Sales), Andreas Efthymiou (@Andreas.E_Investment_Sales) & Kevin Schmitz (@Kevin.Schmitz_CRE) - Ripco
SALE PRICE: $53,000,000
UNITS: 288 ~ PPU: $184,028
SF: 189,250 ~ PPSF: $280
NOTE FROM BROKER: The building has been shuttered for nearly 5 years which contains 288 units, this property sits on nearly 3.5 acres directly across from the LaGuardia Airport. The buyer plans on redeveloping the property.View on map
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Address90-10 Ditmars Boulevard
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