92-Unit Apartment Complex Rockaway Beach, Queens, NY

$27,552,000
Property type: Large Multifamily
Gross Sqft (Sq Ft)
110,667
Units
92

Details

  • Lot Size: 81,982 Sq Ft
  • Year Built: 2004
  • Block / Lot: Call for details
  • Lot Dimensions: 270' x 315'
  • Gross Sqft: 110,667
  • Stories: 3
  • Zoning: R5D
  • Tax Class: 1
  • Taxes (19/20): $26,970 (Multiple 421A tax abatement schedules)

Description

Price includes a 3% broker fee paid by buyer


This apartment complex was constructed in 2004 and is located in the Rockaway Beach neighborhood of Queens. It is a garden-style complex made up of four residential buildings with shared in-place income-producing outdoor parking spaces.

This beautiful residential community features 92 residential units and one laundromat for a total of 110,667 square feet across 32 adjoining lots. The unit mix is 29 two-bedroom apartments and 62 three-bedroom apartments, plus 1 apartment for the Super. The 2-bed apartments are 1,000 sqft, and the 3-bed apartments are 1,100 sqft.

With approximately 800± feet of combined frontage, it has a prominent stance on the city block. The property is bounded by Rockaway Beach Boulevard, a popular retail street with shops and restaurants, and is two blocks from the beachfront and Rockaway Beach Boardwalk.

JFK International Airport is 20 minutes away and the A and S trains are within a five-minute walk. The NYC Ferry system also provides transit to NYC in under one hour, making the Property easily accessible by local and national travelers looking to enjoy the attractions the area offers.

There’s a well fargo mortgage of about $15M  with an early payment penalty. So a buyer would have to factor that in the deal.

Potential buyers will need to submit an LOI with POF for next steps.

Contact the Agent

Rowen Giles

New York Licensed Real Estate Salesperson
Rowen is a New York Licensed Real Estate Salesperson in association with D. White, a licensed broker. Hire Rowen as your real estate agent to represent you in the purchase or sale of residential and commercial real estate. Locations include Brooklyn, Bronx, Queens, Long Island, Staten Island, and upstate NY.