facebook
Traded Co logo
Submit

Marcus & Millichap Facilitates $14.5M Multifamily Sale In Jackson Heights, Queens

Property Image
SOLD
$14,500,000
Joseph (Joe) Koicim
Louis Zarif
Sean Fopeano
+ 2

New York

See Similar Deals
MultiFamily100,000 SF
Sold 06/15/2023
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Facilitates $14.5M Multifamily Sale In Jackson Heights, Queens

94-05 35th Ave, Jackson Heights, NY 11372

See Similar Deals
MultiFamily100,000 SF
Sold 06/15/2023
Joseph (Joe) Koicim
Louis Zarif
Sean Fopeano
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$145
Total Square Footage:100,000 SF
Transaction Type:Sale

The multifamily property located at 94-05, 94-19, and 95-05 35th Avenue in Jackson Heights, Queens has been sold for a total of $14,500,000. The asset consists of a total of 103 units, with an average price per unit of $140,777. The property spans approximately 100,000 square feet, resulting in a price per square foot of $145.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $14,500,000
  • Address: 94-05, 94-19, and 95-05 35th Avenue, Jackson Heights, Queens
  • Market: Jackson Heights, Queens
  • Units: 103
  • Price per Unit: $140,777
  • Square Footage: 100,000
  • Price per Square Foot: $145

The sale of this multifamily property was facilitated by the broker team consisting of Shaun Riney, Seth Glasser, Sean Fopeano, Louis Zarif, and Joe Koicim from Marcus & Millichap.

Players

Seth Glasser
Marcus & Millichap
Seth Glasser
125 deals$1.1B volume
BROKER
Joseph (Joe) Koicim
Marcus & Millichap
Joseph Koicim
172 deals$2.7B volume(212) 430-5147
BROKER
Shaun Riney
Marcus & Millichap
Shaun Riney
355 deals$1.8B volume(718) 475-4369
BROKER
Sean Fopeano
Marcus & Millichap
Sean Fopeano
26 deals$180.7M volume
BROKER
Louis Zarif
Marcus & Millichap
Louis Zarif
14 deals$117.5M volume
BROKER

Details

SOLD
IMAGE: Seth Glasser, Sean Fopeano, Shaun Riney, Louis Zarif & Joe Koicim DATE: 06/15/2023 ADDRESS: 94-05, 94-19, 95-05 35th Avenue MARKET: Jackson Heights, Queens ASSET TYPE: Multifamily BROKERS: Shaun Riney (@ShaunRiney1), Seth Glasser (@SethGlasser1), Sean Fopeano (@Sean_Fopeano_NYMF), Louis Zarif (@RealLouisz) & Joe Koicim (@Joey1Cap) - Marcus & Millichap (@MarcusMillichap_NY) SALE PRICE: $14,500,000 UNITS: 103 ~ PPU: $140,777 SF: 100,000 ~ PPSF: $145

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$773,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77