Lewis of ERG is sole broker in $980,000 sale of Queens multifamily

Queens, NY ERG Commercial Real Estate handled the sale of a three-story brick multifamily building in the Corona neighborhood for $980,000.

The six-unit rental stabilized building at 40-11 102^nd Ave. contains a total of 4,350 s/f. It was built in 1974.

It sold for a cap rate of 5.5% and $163,333 price per unit. The building features five, two-bedroom apartments and one, one-bedroom.

ERG’s managing director Ryan Lewis represented both the seller, Rafael Yukhananov and the buyer, Ridwan Kabir.

“All tenants are current with rent and are long-term tenants,” said Lewis, “This property provides a unique opportunity to acquire a multifamily building in which rent collections are not an issue due to COVID-19 circumstances.”

The property is located off of Roosevelt Ave. and is walking distance to the main retail intersection of Roosevelt Ave. and 103^rd St. Corona Plaza. This prime location grants access to the #7 subway, several MTA bus stops and an abundant amount of shops, restaurants, and businesses along the retail corridor.

Tags: Brokerage

Reprint

Previous Story Next Story

CBRE leases 9,527 s/f to Cypress Creek Renewables at 530 Fifth Ave.

Manhattan, NY In a transaction arranged by CBRE, Cypress Creek Renewables, a solar and energy storage developer and independent power producer, has inked a 9,527 s/f office lease at 530 Fifth Ave. The firm will occupy part of the 17^th floor

Brookfield Properties welcomes TABLET WORKS to Brookfield Place

Brookfield Props. welcomes TABLET WORKS to Brookfield Pl.

Horizon Kinetics relocates new headquarters to Tishman Speyer’s Rockefeller Center

Horizon Kinetics relocates to Tishman Speyer’s Rockefeller Center

JLL Capital Markets facilitates $30.75 million sale of 1 North Main St. to KABR Group

JLL facilitates $30.75m sale of 1 North Main St. to KABR

Hanna Commercial Real Estate brokers Agri-Plastics 64,000 s/f manufacturing facility lease at Uniland’s 2 Steelworkers Way

Hanna Comm'l. brokers Agri-Plastics 64,000 s/f lease at Uniland’s 2 Steelworkers Way

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

Westchester Disabled on the Move leases at Simone’s One Executive Blvd.

Columns and Thought Leadership

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.