Cushman & Wakefield Arranges $3M Sale of Apartment Building in Queens

28-08 23rd Ave. in Queens

NEW YORK CITY — Cushman & Wakefield has arranged the $3 million sale of an eight-unit apartment building in the Astoria neighborhood of Queens. The sales price equates to approximately $511 per square foot and a 4.3 percent capitalization rate. Thomas A. Donovan, Tommy Lin, Eugene Kim and Robert Rappa of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed. The property, which is located at 28-08 23rd Ave., consists of eight two-bedroom apartment units. Four units are rent-stabilized, one is rent-controlled and three are free-market.

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