Isaac Malekan Acquires Multifamily Property In Queens, Jamaica For $2.8M
SOLD
$2,800,000
New York
See Similar DealsMultiFamily80,000 SF
Sold 02/14/2020
SOLD
Isaac Malekan Acquires Multifamily Property In Queens, Jamaica For $2.8M
90-39 179th Pl #37, Jamaica, NY 11432, USA
See Similar DealsMultiFamily80,000 SF
Sold 02/14/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$35
Total Square Footage:80,000 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$149,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14
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