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41-05 29th St Queens, NY 11...

SB Development Sells Condo In Long Island City For $2.1M
SOLDCondo

SB Development Sells Condo In Long Island City For $2.1M

41-05 29th St Queens, NY 11101, USA

$2,100,000

$1,735/SF

Building Size

1,210 SF

Asset Type

Condo

Closing

Sep 11, 2023

AI

A condo located at 41-05 29th Street in Long Island City has been sold for $2,100,000. The property spans over 1,210 square feet and was sold at a price per square foot of $1,736.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $2,100,000
  • Address: 41-05 29th Street
  • Market: Long Island City
  • Seller: SB Development
  • Brokers: Sophia Park & Kenneth Lee - Modern Spaces
  • Square Footage: 1,210
  • Price per Square Foot: $1,736

Sophia Park and Kenneth Lee, representing Modern Spaces, facilitated the sale of this condo. The transaction marks a successful deal for both the seller, SB Development, and the buyers.

Players

Sophia Park

Modern Spaces

Broker

$7M

vol

3 deals

Broker
SD
SB DevelopmentSeller

Market Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93