Sale of 22-Building Portfolio Marks Largest Queens Multifamily Deal Start of Pandemic

A&E Real Estate has purchased the 22-building, more than 1,000-unit Cunningham Heights residential complex. The sale of the Queens Village complex by Long Island-based Benjamin Companies fetched $130 million, or about $123,000 per unit, at a cap rate of 5.6 percent. Spread across four city blocks, the 1950s-era development is about 99 percent occupied.

Source:    https://commercialobserver.com/2022/02/ae-real-estate-snags-queens-residential-complex-for-130m/