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GFI Realty Trades Richmond Hill 36-Unit Multifamily Building for $5.095M

GFI Realty Services, LLC today announced the $5.095-million sale of 86-21 112th Street, a multifamily building comprised of 36 units, located in the Richmond Hill section of Queens. GFI Realty Director Ohad Babo, and associate Yosef Magarefteh, also of GFI Realty, represented the buyer, Shanti Ammar, and the seller, Ilias Theodoropolus.

Constructed in 1952, the three-story building totals approximately 39,618 square-feet, and is composed of 18 one-bedroom apartments and 18 two-bedroom apartments.

“The buyer, already having a solid presence in Richmond Hill, immediately recognized the value of the property,” said Babo.  “The asset benefits from its proximity to the J-Z subway lines, as well as its access to the center parts of Queens thru the Jamaica Terminal, the Van Wyck Expressway and the Jackie Robinson Parkway.” 

The building is in proximity to the Jamaica Avenue and Sutphin Boulevard commercial corridors, Forest Park and is half a block from the J subway lines.

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