Isak of Falco & Isak is sole broker in $2 million sale of Queens walk-up; for 26-07 18th Street; Seller was Hernandez, buyer was Plata, LLC

Rubin Isak, CEO & co-founder of Falco & Isak Realty Services, has exclusively sold 26-07 18th St. in Astoria, in an all cash transaction valued at $2 million. The subject property is a 4.5-story, brand new ground up construction, brick, walk-up apartment building containing seven residential units with balconies located on the northwest side of 18th St. The sales price of $2 million represents a capitalization rate of 6.1% and a gross rent multiple of 14.1X The seller was Kevin Hernandez and the purchasers are Plata LLC. Isak was the sole broker.