Risland Holdings Acquires Queens Condo Complex For $161.3M
3 Ct Square W Queens, NY 11101, USA
$161,300,000
$163,590/SF
Building Size
986 SF
Asset Type
Condo
Closing
Mar 8, 2022
About this deal
AI
The Condo located at 3 Court Square (23-15 44th Drive) in Queens has been sold for a total of $161,300,000. The sale was completed on 08/03/2022 and the property consists of 801 units with an average price per unit of $201,373. The total square footage of the property is 80,379, with a price per square foot of $2,007.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $161,300,000
- Units: 801
- Price per Unit: $201,373
- Square Footage: 80,379
- Price per Square Foot: $2,007
- Market: Queens
The buyer of the property is Risland Holdings, while the sellers include United Construction, Development Group, and FSA Capital.
On the Map
$161,300,000
$163,590/SF
Condo
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93