Updated Feb 11, 2025
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
About this deal
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.
On the Map
$1,580,000
$3,198/SF
MultiFamily
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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