April 6, 2020
Marcus & Millichap finalized the sale of 31-65 29th St., a 48-unit multifamily building located in the Astoria section of Queens. The property, which the firm called a unique opportunity to acquire a prewar elevator building in the heart of Astoria, sold for $16,769,500.
The seller, a private investor, was represented by Matt Fotis, Lazarus Apostolidis, Zachary Golub and Paul Youssef of Marcus & Millichap’s Triborough Multifamily team. The team also procured the buyer, another private investor.
The property was listed just before the New York State Legislature enacted the Housing Stability and Tenant Protection Act of 2019. The contract was signed months after the bill passed, and the deal closed virtually on March 24.
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