Treetop Development Acquires Multifamily Asset In Queens Village For $20M
94-03 222nd Street, Queens, New York 11428, United States
$20,000,000
$128/SF
Building Size
155,937 SF
Asset Type
MultiFamily
Closing
Jun 26, 2022
AI
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
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93