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Brokerage
Posted: May 30, 2023
GFI Realty Services sells 36-unit multifamily in Richmond Hill for $5.095 million
Queens, NY GFI Realty Services, LLC negotiated the $5.095 million sale of 86-21 112th St., a multifamily building comprised of 36 units, located in the Richmond Hill section of the borough. GFI Realty director Ohad Babo, and associate Yosef Magarefteh, represented the buyer, Shanti Ammar, and the seller, Ilias Theodoropolus.
Constructed in 1952, the three-story building totals 39,618 s/f, and is composed of 18 one-bedroom apartments and 18 two-bedroom apartments.
“The buyer, already having a solid presence in Richmond Hill, immediately recognized the value of the property,” said Babo.
“The asset benefits from its proximity to the J-Z subway lines, as well as its access to the center parts of Queens thru the Jamaica Terminal, the Van Wyck Expressway and the Jackie Robinson Parkway.”
The building is in proximity to the Jamaica Ave. and Sutphin Blvd. commercial corridors, Forest Park and is half a block from the J subway lines.
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