Kerwin and Katz of GFI Realty sells 45-16 44th St. for $6.625 million

Michael Kerwin and Yosef Katz of GFI Realty Services Inc., recently handled the sale of 45-16 44th St. in the Sunnyside neighborhood for $6.625 million, 13 times the property's gross rent. This six-story residential elevator apartment building consists of 46 units. The property was sold by the Schneider family, who owned and managed the building for more than 40 years. "This transaction was completely off market," said Kerwin, senior broker at GFI Realty Services. "The buyer, a Manhattan and Queens investor who is a longstanding client of ours, jumped at the chance to own one of the few available rental properties in this area and plans to hold onto the property long-term." "This building is immaculate and located on a quiet residential, tree-lined block in Queens," said Yosef Katz, also a senior broker at GFI. "It is within walking distance of the subway and buses that take only 15 minutes to reach Midtown Manhattan."