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90-39 179th Pl #37, Jamaica...

Isaac Malekan Acquires Multifamily Property In Queens, Jamaica For $2.8M
SOLDMultiFamily

Isaac Malekan Acquires Multifamily Property In Queens, Jamaica For $2.8M

90-39 179th Pl #37, Jamaica, NY 11432, USA

$2,800,000

$35/SF

Building Size

80,000 SF

Asset Type

MultiFamily

Closing

Feb 13, 2020

AI

A multifamily property located at 90-37, 90-39 179th Pl in Queens, Jamaica has been sold for $2,800,000. The property spans 8,000 square feet and has a price per square foot of $350. The transaction involves a total of 20 units, with a price per unit of $140,000.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $2,800,000
  • Square Footage: 8,000
  • Price Per Square Foot: $350
  • Number of Units: 20
  • Price Per Unit: $140,000

The seller of the property is Abdul Khan, while the buyer is Isaac Malekan. The brokers involved in the deal are Ryan Perkoski and John Martisch from RPRNYC.

Players

John Martisch

Broker

$70.5M

vol

14 deals

Broker

Isaac Malekan

Buyer

$8.7M

vol

5 deals

Buyer

Jamaica 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

5.67%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93