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90-34 171st Street, Jamaica...

Eddie Chung Acquires Multi-Family Building In Jamaica, New York For $6.78M
SOLDMultiFamily

Eddie Chung Acquires Multi-Family Building In Jamaica, New York For $6.78M

90-34 171st Street, Jamaica, NY, USA

$6,780,000

$452/SF

Building Size

15,000 SF

Asset Type

MultiFamily

Closing

Dec 4, 2017

AI

Located at 90-34 171st Street in New York's Jamaica neighborhood, this multi-family property has recently been sold. The property is a new construction with an elevator, offering convenience and modern amenities to its residents. The sale took place on December 5, 2017, with a transaction amount of $6,780,000. The property spans a total of 15,000 square feet, resulting in a price per square foot of $452.

Summary of transaction details

  • Property Type: Multi-family (New Construction Elevator)
  • Transaction Amount: $6,780,000
  • Seller: Green Manor of Hillside
  • Buyer: Eddie Chung
  • Broker: Greg Corbin, Aaron Kline and Robert Koda of Besen & Associates

In this sale, Green Manor of Hillside acted as the seller, while Eddie Chung became the new owner of the property. The deal was facilitated by brokers Greg Corbin, Aaron Kline, and Robert Koda, representing Besen & Associates. The transaction reflects the strong real estate market in Jamaica, New York.

Players

Aaron Kline

Rosewood Realty Group

Broker

$79.3M

vol

6 deals

Broker

Eddie Chung

Buyer

$10.2M

vol

2 deals

Buyer

Jamaica 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

2.34%

Cash-on-Cash

-0.67%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93