Entrepreneur Properties arranged the sale of 43-05 65th St. The property sold for $8.4 million or 14 times the rent.
The property is a four-story walk-up with 42 apartments located in the neighborhood of Woodside. "There is very little supply in Queens and the demand is stronger than ever," said Ami Efrati, president of Entrepreneur Properties. Efrati represented the seller; a private family who has owned the property for more than 30 years and the buyer hotelier Shimmie Horn.
At $200,000 per unit, this transaction represents the highest price paid per unit for an individual walk-up building in Queens this year. Tags: