Michael Liu Acquires Residential Condo In Long Island City For $1.2M
SOLD
$1,228,386
New York
See Similar Deals80,379 SF
Sold 12/20/2021
SOLD
Michael Liu Acquires Residential Condo In Long Island City For $1.2M
3 Court Square, Queens, New York 11101, United States
See Similar Deals80,379 SF
Sold 12/20/2021
Summary
NEW YORK
Price Per Square Foot:$15
Total Square Footage:80,379 SF
Transaction Type:Sale
A residential condo located at 3 Court Square in Long Island City, was recently sold for $1,228,386. The property spans a total of 918 square feet, resulting in a price per square foot of $1,338. The sale took place on December 20, 2021. The buyer of the condo was Michael Liu, while the seller was Star Associates LLP. The transaction was facilitated by Doron Berenholtz from The Corcoran Group.
Summary of transaction details:
- Property Type: Residential Condo
- Transaction Amount: $1,228,386
- Address: 3 Court Square, Long Island City
- Market: Long Island City
- Square Footage: 918
Doron Berenholtz from The Corcoran Group represented both the buyer, Michael Liu, and the seller, Star Associates LLP, in the sale of the residential condo at 3 Court Square. The property's prime location in Long Island City and its square footage contributed to its desirability in the market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$65,513.92
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,364.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,823.18
Annual Debt Service$69,878.12
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