Marcus & Millichap team brokered $20 million deal in Astoria
New multi-million dollar deal occurred in Astoria
A new sale has gone down in Astoria. A team of brokers from Marcus & Millichap completed the transaction for two five-story buildings. Furthermore, these contain seventy apartment units together and are located at 30-58 34th Street and 30-64 34th Street. Overall, the team sold both buildings for $20.5 million, averaging $293,000 per unit.
These buildings have a very good location. They are only a five minute walk away from the 30th Avenue subway station. Overall, the towers span 49,600 square feet and include 48 one bedroom apartments, 16 two bedroom units and 6 three bedroom ones.
One of the members of the Marcus & Millichap team, Peter Von Der Ahe, said Astoria is one of the fastest-growing markets in Queens, and that the buildings will provide the new owner with immediate upside opportunity. Furthermore, inventory in Queens is getting scarce, so these units are particularly important.
The team from Marcus & Millichap was formed by Von Der Ahe himself plus Joe Koicim, Shaun Riney, Noah Kossoff and Dylan Walsh. They represented the former owner and seller, Takis Tsagronis. This team also procured the buyer, Urban American. [NYrej]