Marcus & Millichap Brokers $48M Sale Of 312-Unit Multifamily In Rego Park, Queens

The multifamily property located at 99-58 66th Ave. in Rego Park, Queens has been sold for a total price of $48,000,000. The property consists of 312 units, resulting in a price per unit of $153,846. The total square footage of the property is 338,016, giving it a price per square foot of $142. This asset is 100% rent stabilized, making it an attractive investment opportunity.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $48,000,000
• Units: 312
• Price Per Unit: $153,846
• Total Square Footage: 338,016
• Price Per Square Foot: $142
• Market: Rego Park, Queens

The sale of this property was facilitated by the brokers at Marcus & Millichap, namely Shaun Riney, Seth Glasser, Joe Koicim, Sean Fopeano, and Louis Zarif. They played a crucial role in the successful completion of this transaction. For inquiries regarding pricing in this asset class, interested parties can get in touch with Shaun Riney at 718.475.4369 or Seth Glasser at 212.430.5136. Additionally, a special thanks goes to Ari Davis, seller counsel, for his valuable contribution to this deal.