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
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