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Related Companies Sells Multifamily Properties In Astoria Long Island City And Brooklyn For $7.6M

Property Image
SOLD
$7,600,000
Edward (Eddie) Setton
Ben Khakshoor
+ 2

New York

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MultiFamily31,960 SF
Sold
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Property Image
SOLD

Related Companies Sells Multifamily Properties In Astoria Long Island City And Brooklyn For $7.6M

36 05 Vernon Boulevard, 5 16 47th Road, 32 38 48th Street & 461 Dekalb Avenue

See Similar Deals
MultiFamily31,960 SF
Sold
Edward (Eddie) Setton
Ben Khakshoor
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$237
Total Square Footage:31960 SF
Transaction Type:Sale

This multifamily property transaction encompassed several addresses, specifically 36-05 Vernon Boulevard, 5-16 47th Road, 32-38 48th Street, and 461 Dekalb Avenue, with a total sale price of $7,600,000. The asset has a total square footage of 10,500, translating to a price per square foot of $723, and is situated in the markets of Astoria, Long Island City, and Brooklyn.

Summary of transaction details:

The brokers involved include Aaron Jungreis, Ben Khakshoor, and Alex Fuchs from Rosewood Realty Group, along with Edward Setton and Adam J Hess from Sterling Property Group NY, facilitating the successful transaction for the seller, Related Companies.

Players

Aaron Jungreis
200 deals$4.3B volume(212) 359-9900
BROKER

Ben Khakshoor
Rosewood Realty Group
130 deals$1.9B volume(212) 359-9913
BROKER

Edward (Eddie) Setton
Sterling Property Group NY
55 deals$251.4M volume
BROKER

Adam J Hess
Sterling Property Group NY
57 deals$251.4M volume
BROKER

Alex Fuchs
Rosewood Realty Group
98 deals$1.9B volume
BROKER

Rosewood Realty Group
BROKERAGE


Details

SOLD
IMAGE: Aaron Jungreis, Alex Fuchs, Ben Khakshoor, Edward Setton & Adam J Hess DATE: 9/25/2025 ADDRESS: 36-05 Vernon Boulevard, 5-16 47th Road, 32-38 48th Street & 461 Dekalb Avenue MARKET: Astoria, Long Island City & Brooklyn ASSET TYPE: Multifamily SELLER: Related Companies (@RelatedCos) BROKERS: Aaron Jungreis (@AaronJungreis), Ben Khakshoor (@BenKhak) & Alex Fuchs (@AlexFuchs1) - Rosewood Realty Group (@RosewoodRG); Edward Setton & Adam J Hess - Sterling Property Group NY (@SterlingPropertyGroupNY) SALE PRICE: $7,600,000 SF: 10,500 ~ PPSF: $723

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$405,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$27,001.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,027.88
Annual Debt Service$432,334.53