Updated Dec 21, 2023
Angelo Russo Acquires Multi Family Property In Elmhurst, Queens For $3.6M
94-02 41 Ave, Queens, New York 11373, United States
$3,600,000
$249/SF
Building Size
14,440 SF
Asset Type
MultiFamily
Closing
Nov 22, 2021
About this deal
AI
A multi-family property located at 94-02 41 Avenue in Elmhurst, Queens has been sold. The property is zoned as R4 and has a lot size of 4,000 square feet. It features a total building square footage (BSF) of 3,000 and a price per square foot (PPSF) of $1,200. The property spans 14,440 square feet, and the price per square foot (PPSF) is $249. The property's floor area ratio (FAR) is 3.61, and it is classified as tax class 2. The dimensions of the lot are 40 feet by 100 feet.
Summary of transaction details
- Property Type: Multi-Family
- Transaction Amount: $3,600,000
- Buyer: Angelo Russo
- Seller: Sebastian Manciameli
- Last Sale Price: $0 (2/20/1979)
The buyer, Angelo Russo, acquired the property from the seller, Sebastian Manciameli, for a total amount of $3,600,000. It should be noted that the property was previously sold for $0 on February 20, 1979.
Elmhurst 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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93