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Brokerage
Posted: October 16, 2012
Isak and Falco of Falco Isak handle $1.75 million sale
Rubin Isak and John Falco of Falco Isak Realty Services, an investment sales firm, has recently exclusively sold 34-21 37th St. in Long Island City in an all cash transaction valued at $1.75 million
34-21 37th St. is a four-story, attached, brick, walk-up apartment building built in 1916, containing eight residential units located on the east side of 37th St. between 34th and 35th Aves. across from Astoria Kaufman Studios.
The sales price of $1.75 million represents a capitalization rate of 5.8%; 11.2 times the gross rent, and equates to $218,750 per unit ($194.44 per s/f.)
The seller was 34-21 37th Street LLC and the purchaser was Blue Sky Entity LLC, a private investor in the area. Falco Isak Realty was the sole broker.
Falco Isak Realty Services is an investment sales firm focusing solely on exclusively representing owners in the sale of investment property.
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