Arik Lifshitz’s DSA Property Group has acquired 2928 41st Avenue in Long Island City from Jack Guttman for $47 million. The multi-family building spans 96,456 square feet, and contains 115 market-rate units, plus a small office component.
- Be Smart: The deal sold at a 5.1% cap rate and a GRM of 13, TRD noted. The office component spans 7,600 square feet on the ground floor.
- Acquisition financing: The buyer secured a $31.5 million loan from Signature Bank to close the deal.