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Eddie Chung Acquires Multi-Family Building In Jamaica, New York For $6.78M

Property Image
SOLD
$6,780,000
Greg Corbin
Aaron Kline
+ 1

New York

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SOLD

Eddie Chung Acquires Multi-Family Building In Jamaica, New York For $6.78M

90-34 171st Street, Jamaica, NY, USA

See Similar Deals
MultiFamily15,000 SF
Sold
Greg Corbin
Aaron Kline
+ 1
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$452
Total Square Footage:15000 SF
Transaction Type:Sale

Located at 90-34 171st Street in New York's Jamaica neighborhood, this multi-family property has recently been sold. The property is a new construction with an elevator, offering convenience and modern amenities to its residents. The sale took place on December 5, 2017, with a transaction amount of $6,780,000. The property spans a total of 15,000 square feet, resulting in a price per square foot of $452.

Summary of transaction details

  • Property Type: Multi-family (New Construction Elevator)
  • Transaction Amount: $6,780,000
  • Seller: Green Manor of Hillside
  • Buyer: Eddie Chung
  • Broker: Greg Corbin, Aaron Kline and Robert Koda of Besen & Associates

In this sale, Green Manor of Hillside acted as the seller, while Eddie Chung became the new owner of the property. The deal was facilitated by brokers Greg Corbin, Aaron Kline, and Robert Koda, representing Besen & Associates. The transaction reflects the strong real estate market in Jamaica, New York.

Players

Aaron Kline
6 deals$79.3M volume
BROKER

Robert Koda
1 deal$6.8M volume
BROKER

Greg Corbin
Northgate Real Estate Group
81 deals$1.1B volume(212) 419-8101
BROKER

Details

SOLD
IMAGE: 12/05/17 ADDRESS: 90-34 171st Street CITY: New York MARKET: Jamaica ASSET TYPE: Multi-family (New Construction Elevator) SELLER: Green Manor of Hillside BUYER: Eddie Chung BROKER: Greg Corbin, @TheCorbinGroup, Aaron Kline and Robert Koda of Besen & Associates @besengroup PRICE: $6,780,000 SF: 15,000 sf ~ PPSF: $452

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,087.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,140.66
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