Treetop Development Acquires Multifamily Asset In Queens Village For $20M
SOLD
$20,000,000
New York
See Similar DealsMultiFamily155,937 SF
Sold 06/27/2022
SOLD
Treetop Development Acquires Multifamily Asset In Queens Village For $20M
94-03 222nd Street, Queens, New York 11428, United States
See Similar DealsMultiFamily155,937 SF
Sold 06/27/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$128
Total Square Footage:155,937 SF
Transaction Type:Sale
A multifamily property located at 94-03 & 93-45 222nd Street in Queens Village has been sold for $20,000,000. The property consists of 127 units, with an average price per unit of $157,480. The total square footage of the property is 155,937, resulting in a price per square foot of $128.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Units: 127
- Price per Unit: $157,480
- Square Footage: 155,937
- Price per Square Foot: $128
Treetop Development acquired the property from Richard Albert in this transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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