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Kassin Sabbagh Realty Acquires Multifamily Building From Faraidoon Golyan In Rego Park For $5.8M
SOLD
$5,800,000
New York
See Similar DealsMultiFamily55,300 SF
Sold 04/18/2024
SOLD
Kassin Sabbagh Realty Acquires Multifamily Building From Faraidoon Golyan In Rego Park For $5.8M
99-44 62nd Avenue
See Similar DealsMultiFamily55,300 SF
Sold 04/18/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$104
Total Square Footage:55,300 SF
Transaction Type:Sale
A 62-unit residential elevator building located at 99-44 62nd Avenue in Rego Park, Queens, was sold for $5.8 million. The property spans 55,300 square feet, amounting to a price per square foot of $105.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,800,000
- Buyer: Abraham J. Kassin - Kassin Sabbagh Realty
- Seller: Faraidoon Golyan
- Market: Rego Park, Queens
Kassin Sabbagh Realty's entity, 99-44 62 LLC, was the buyer in this transaction, acquiring the property from the Golyan family's Goylan Enterprises LLC. Abraham J. Kassin represented Kassin Sabbagh Realty as the buyer's broker.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$309,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51
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