Local Investment Firm Pays $25M For Long Island City Apartment Building

Local Investment Firm Pays $25M For Long Island City Apartment Building

Local Investment Firm Pays $25M for Long Island City Apartment Building

Real Estate One Acquires 61-Unit Multifamily Building

The 61-unit apartment building in Long Island City. Photo: CoStar

Real Estate One, a local full service investment firm, purchased a 61-unit apartment building in Long Island City from a private investor based in Florida for $25 million, or about $410,000 per unit.

The six-story building at 28-15 34th St. comprises a mix of studio and one-bedroom units. Built in 1928, the Class B building spans a quarter of an acre less than three blocks from the 30 Avenue subway station.

Evi Angelakis with Golden Key Realty Group represented the seller in the transaction. Tom Bouklis at The Bouklis Group represented the buyer.

For additional information regarding this transaction, please refer to CoStar COMP #4654553.