Isak of Falco & Isak brokers $1.6 million sale of 30-73 Steinway, Astoria

Rubin Isak, CEO & co-founder of Falco & Isak Realty Services, has sold 30-73 Steinway St., Astoria in an all-cash transaction valued at $1.6 million. The seller was Emmars Equities LLC and the purchaser was 30-73 Steinway St. LLC, a private investor. Isak was the sole broker. The property is located on the east side of Steinway St. between 30th and 31st Aves. It is a 3,740 s/f, three-story, attached, single tenant retail building. The existing NN tenant is "Lens Lab Express." The sales price of $1.6 million represents a capitalization rate of 5.84%, a gross rent multiple of 13.3X and 427.80 s/f. Falco & Isak Realty Services focuses solely on exclusively representing owners in the sale of investment property in Queens and Manhattan.