Recent Sale $11.375M: 24-10, 24-16 and 24-20 29th Street (24th Avenue and Hoyt Avenue North)

 

RECENT SALE

$11.375 MILLION

24-10, 24-16 and 24-20 29th Street (24th Avenue and Hoyt Avenue North)

Astoria, Queens

 

A private investor has bought these three contiguous four-story walk-ups, with a total of 25,000 square feet, and 27 apartments (nine in each building). There are eight two-bedroom and 19 three-bedroom apartments, of which six are free-market and 21 rent-stabilized. The 1924 building sold for 16.2 times the rent roll, with a cap rate of 3.8 percent.

 

Buyer: Dmdal L.L.C.

Buyer’s Brokers: Greg Corbin and Aaron Kline, Besen & Associates

Seller: 24-10 29th Street L.L.C.

 

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