Hamamy and Zamir of GFI Realty secure $5.2 million sale

GFI Realty Services, Inc. arranged the sale of 93-11, 93-13 & 93-15 Lamont Ave., three contiguous four-story walk-up apartment buildings located in the Elmhurst section of the borough for $5.2 million or $226k per unit. This multifamily properties consist of a total of 23 apartments. The buildings were constructed in 2007. Regev Hamamy, an associate of GFI Realty Services, represented the seller and Kobi Zamir also of GFI represented the buyer. The buyer and seller are both local investors. "The seller was looking to diversify his portfolio with assets outside of N.Y.C. and thought that now was a prime opportunity to take advantage of the high demand Queens marketplace," said Hamamy. "These three recently constructed buildings were very attractive to the buyer because of the healthy in-place income as well as the efficient financing he was able to obtain," said Zamir. "The buyer was also attracted to the growing Elmhurst neighborhood." The property is located in close proximity to Roosevelt Avenue, a major commercial corridor and the 7 train.