SOLD
Ari Harkov Acquires Ridgewood Multifamily Portfolio For $12.8M
510 Fairview Avenue, 18-63 Himrod Street, 291 Onderdonk Avenue, 664 Onderdonk Avenue & 18-79 Linden Street
MultiFamily
14,400 SF
14,400 SF
Summary
Sale
NEW YORK
MultiFamily
14,400 sqft
The sale of a multifamily portfolio in Ridgewood, Queens has been completed. The portfolio includes five buildings located at 510 Fairview Ave., 18-63 Himrod St., 291 Onderdonk Ave., 664 Onderdonk Ave., and 18-79 Linden St. The properties span a total of 14,400 square feet and consist of twenty fair market residential units. The unit mix includes twelve 3-bedroom/1.5-bathroom units and eight 4-bedroom/1.5-bathroom units. The portfolio was sold for a total of $12,755,000, with a price per unit of $637,750. The price per square foot was $886.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,755,000
- Units: 20
- Price per Unit: $637,750
- Square Footage: 14,400
- Price per Square Foot: $886
The transaction was facilitated by Ari Harkov of The Harkov Lewis Team at Brown Harris Stevens, who represented the buyer. The seller was represented by Baruch Edelkopf and Joseph Rosenfeld of Schuckman Realty. Please contact Joseph Rosenfeld at [email protected] or 718-501-8294, or Baruch Edelkopf at [email protected] or 646-919-2446 for more information about similar properties or underwriting considerations for fair market tax class 2A and 2B properties.
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Details
SOLD
IMAGE: Ari Harkov, Baruch Edelkopf & Joseph Rosenfeld
DATE: 06/23/2022
ADDRESS: 510 Fairview Ave., 18-63 Himrod St., 291 Onderdonk Ave., 664 Onderdonk Ave. & 18-79 Linden St.
MARKET: Ridgewood, Queens
ASSET TYPE: Multifamily
BUYER’S REP: Ari Harkov (@AriHarkov) (The Harkov Lewis Team) (@HarkovLewisTeam) - Brown Harris Stevens
SELLER’S REP: Baruch Edelkopf (@Emh8212) & Joseph Rosenfeld (@Joseph.Rosenfeld) - Schuckman Realty (@SchuckmanRealty)
SALE PRICE: $12,755,000
UNITS: 20 ~ PPU: $637,750
SF: 14,400 ~ PPSF: $886
NOTE FROM BROKERS:
This trade represents the sale of a 5 Building Multifamily walkup portfolio which includes: 291 Onderdonk Avenue, 510 Fairview Avenue, 664 Onderdonk Avenue, 18-63 Himrod Street & 18-79 Linden Street, all of which are located in the Ridgewood Neighborhood of Queens.
The properties Span a total of 14,400 Square feet & include Twenty Fair Market residential units, with a unit mix of Twelve 3-Bedroom/1.5-Bathroom units, & Eight 4-Bedroom/1.5-Bathroom Units.
The portfolio was delivered traded at $12,755,000 ($886/SF) at a day one blended Cap Rate of 4.43% & a 5.31% Cap Rate on the pre-covid Rent roll.
Please reach out to discuss similar properties which we are currently selling, or to compare notes on the underwriting considerations you can expect to see buyers apply on similar Fair Market Tax Class 2A & 2B properties today: Joseph Rosenfeld: Email: [email protected] Phone: 718-501-8294. Baruch Edelkopf: Email: [email protected] Phone: 646-919-2446View on map
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Address510 Fairview Avenue, 18-63 Himrod Street, 291 Onderdonk Avenue, 664 Onderdonk Avenue & 18-79 Linden Street
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