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Posted: December 13, 2010
Isak of Falco & Isak Realty Services arranges $1.15 million sale
Rubin Isak of Falco & Isak Realty Services was the sole broker in the $1.15 million all-cash sale of 32-05 36th Ave. in Long Island City. The buyer was Platia Vardari LLC, a private investor. The mixed-use, three-story brick walk-up building is fully leased and is comprised of a Thai restaurant on the ground floor and two four-bedroom apartments on the 2nd and 3rd floors. The property traded at a GRM of 11.7X, a cap rate of 7.45% and $302.63 per s/f.
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