Updated Dec 18, 2023
Harry Otterman Acquires Multifamily Property In Jackson Heights For $6.25M
90-11 35th Ave, Flushing, NY 11372, USA
$6,250,000
$281/SF
Building Size
22,230 SF
Asset Type
MultiFamily
Closing
Oct 30, 2019
About this deal
AI
A multifamily property located at 90-11 35th Avenue in Jackson Heights, Queens has been sold in a closed transaction. The property consists of 30 units and has a total square footage of 22,230. The asking price for the property was $6,550,000, and it was ultimately sold for $6,250,000. This translates to a price per square foot of $281, and a price per unit of $208,333.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,250,000
- Address: 90-11 35th Avenue
- Market: Jackson Heights, Queens
- SF: 22,230
- PPSF: $281
- Units: 30
- PPU: $208,333
In this transaction, the seller was Jeff Ull and the buyer was Harry Otterman. The brokers involved in the deal were Shaun Riney, Joe Koicim, and Dylan Walsh.
Players
New York 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
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93