Isak of Eastern Consolidated arranges $7.25 million sale of Queens multifamily

August 01, 2017 - Front Section
Rubin Isak,
Eastern Consolidated

Queens, NY Eastern Consolidated senior director Rubin Isak has arranged the sale of a 24-unit, multifamily property at 25-65 32nd St. in the Astoria neighborhood for $7.25 million, or $302,083 per unit and $462 per s/f.

 Isak represented the out-of-state seller whose grandfather Francesco Pallante built the property over 77 years ago. He also procured the buyer, a local investor.

“This corner property has been well-maintained by the same family for nearly 80 years,” Isak said. “For 35 years, the building has had the same superintendent who will remain under the new ownership and the same management company for over 25 years.”

The 15,687 s/f, four-story, walk-up building at the corner of 28th Ave. has 120 ft. of frontage on 32nd St., a new roof, and boiler. Of the 24 apartments, five are studios, 15 are one-bedroom units, and four are two-bedroom units.

The property is in a quiet residential neighborhood a few blocks from retail corridor, Steinway St.; the N and W trains at the 30th Ave. and Astoria Blvd. subway stations; and access to the Grand Central Parkway.

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