Listed by KSR Kassin Sabbagh Realty
$11,999,000
64-16 Wetherole Street
Details
Property Type Multifamily, Mixed Use
Sub Type Apartment Building
Square Footage 17,845
Units 17
Cap Rate 5.43%
NOI $651,246
Occupancy 100%
Lot Size (SqFt) 4,037
Zoning R7-1
We have a new exclusive listing: a newly developed mixed-use building at 64-16 Wetherole Street, Reg
Marketing description
Kassin Sabbagh Realty (KSR) has been entrusted with the sale of 64-16 Wetherole Street, a newly developed 421-a building located in Rego Park, Queens. This modern building comprises 30% affordable housing units and 70% market-rate units, offering a balanced living environment for various income levels. The affordable units are designed to provide comfortable and quality living spaces for families and individuals under city programs. The building includes one retail space currently rented to a Daycare Center which includes the basement. Located in Rego Park offers easy access to public transportation, shopping, dining, and parks.
Investment highlights
- Total Affordable Units: 5
- City FHEPS Units: 3
- NYCHA Section 8 Units: 1
- Self-Paid Affordable Unit: 1
- 1-bedroom units: 2
- 2-bedroom units: 3
- Total Market-Rate Units: 11
- Daycare Center
- Occupies the basement and retail area
- Separate entrances from Austin Street and Wetherole Street
- Modern kitchens with stainless steel appliances
- Luxurious bathrooms with contemporary finishes
- In-unit climate control
- Secure entry and common areas
- Elevator service
Listing Contacts
Listed by KSR Kassin Sabbagh Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$651,245.72
$54,270.48/mo
Valuation Metrics
0
DSCR
5.43%
Cap Rate
5.43%
ROI
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