Von Der Ahe, Koicim, Rineym Kossoff and Walsh of Marcus & Millichap broker $20.5 million sale of two Queens apartment buildings

 

 

 

Queens, NY Marcus & Millichap has completed the sale of 30-58 34th St. and 30-64 34th St., two five-story walk-up apartment buildings totaling 70 units in the Astoria neighborhood. The total sales price for the two buildings is $20.5 million, which equates to $293,000 per unit.

“Under long-term ownership prior to the sale, the buildings provide the new owner with an opportunity for immediate upside through the capture of significant preferential rent,” said Peter Von Der Ahe of Marcus & Millichap’s Manhattan office. “Astoria is also an excellent place to deploy a long-term hold strategy as it is one of fastest-growing markets in Queens and inventory there is scarce.”

Von Der Ahe, Joe Koicim, Shaun Riney, Noah Kossoff and Dylan Walsh represented the seller, Takis Tsagronis. Von Der Ahe, Koicim, Riney and Walsh procured the buyer, Urban American.

Located on 34th St. between 30th Ave. and 31st Ave., the contiguous buildings are a five-minute walk from the 30th Ave. subway station.

The properties total 49,600 s/f and feature 48 one-bedroom units, 16 two-bedroom apartments and six three-bedroom units.