A 10-unit walk-up apartment building at 131 Beach 121st Street in Rockaway Park, Queens, was sold in an all-cash transaction valued at $800,000.
The building is approximately 6,105 square foot and sits on a 60’ by 85’ lot. The property includes three two-bedroom apartments, three one-bedroom apartments, three lofts, and one studio apartment. All apartments are currently occupied and tenants pay for their own gas, heat, and electric. Each apartment has its own individually installed heating unit and hot water heater. The property also includes 10 off-street parking spaces located on west side of Beach 121st Street. The sale price equates to approximately $130 per square foot.
“This was a former mansion that was converted to a condo-ready, 10-family building,” said Massey Knakal Partner Thomas A. Donovan who exclusively handled this transaction. “Just steps from the Rockaway Park Boardwalk, this property presents the best opportunity to own an oceanfront property at an affordable price,” added Donovan.
Click here for press release
Neighborhoods: The Rockaways