Marcus & Millichap Facilitates $13M Sale of Astoria MF 

Marcus & Millichap has announced the sale of a multifamily property in Queens for $13.26 million. The multifamily property at 34-50 28th St. in Astoria features 76 units across six floors totaling 51,930 square feet, including studios, one-, and two-bedroom apartments. It is near subway lines serving the N and W lines and is within 1.4 miles of LaGuardia Community College. 

Louis Zarif, Shaun Riney, and Sean Fopeano of Marcus & Millichap marketed the property on behalf of the seller and secured the buyer, both private investors. “This asset sold at negative leverage, which highlights the strong fundamentals of the Astoria submarket. We are eagerly anticipating increased opportunities for both buyers and sellers as rates are projected to decrease in the near future,” said Zarif.