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
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