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73 56 53rd Avenue

Dan Chen Acquires Multifamily Property At 73-56 53rd Avenue In Maspeth For $1.58M
SOLDMultiFamily

Dan Chen Acquires Multifamily Property At 73-56 53rd Avenue In Maspeth For $1.58M

73 56 53rd Avenue

$1,580,000

$3,198/SF

Building Size

494 SF

Asset Type

MultiFamily

Closing

Jan 28, 2025

AI

The property is a MultiFamily asset located at 73-56 53rd Avenue in the Maspeth market. The sale price for the transaction was $1,580,000, with a total square footage of 494 and a price per square foot of $3,198.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $1,580,000
  • Address: 73-56 53rd Avenue
  • Market: Maspeth
  • Square Footage: 494
  • Price per Square Foot: $3,198
  • Buyer: Dan Chen
  • Seller: Jason Wang
  • Broker: Vasilakis Pyrpos - Astoria Realty

This transaction involved Dan Chen as the buyer and Jason Wang as the seller. The deal was represented by broker Vasilakis Pyrpos from Astoria Realty, reflecting the collaboration between the parties in the sale process.

Players

Vasilakis Pyrpos

Astoria Realty

Broker

$5.4M

vol

3 deals

Broker

Maspeth MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.04%

Cash-on-Cash

-2.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93