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5 Court Square

Natanel Malkoukian Of Nest Seekers Acquires 58-Unit Condo In Long Island City For $72.3M
SOLDCondo

Natanel Malkoukian Of Nest Seekers Acquires 58-Unit Condo In Long Island City For $72.3M

5 Court Square

$72,290,000

$1,393/SF

Building Size

51,884 SF

Asset Type

Condo

Closing

Feb 14, 2022

AI

A 58-unit, 11-story condominium located at 5 Ct Square W in Long Island City has been sold for a total price of $72,290,000. The property is a condo type asset with a total square footage of 51,884. The sale price per unit is $1,246,379, and the price per square foot is $1,393. The seller in this transaction is ZD Jasper, represented by Jasper Wu from the brokerage firm Jasper Wu. The buyer's representative, Natanel Malkoukian, is from Nest Seekers.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $72,290,000
  • Address: 5 Ct Square W
  • Market: Long Island City

This sale presents an opportunity to acquire a 58-unit condominium in the thriving neighborhood of Long Island City. For more information and to discuss new developments, interested parties can contact Natanel Malkoukian at @nathan.malk or 646-361-3276. Stay tuned for upcoming developments to be announced.

Players

Natanel Malkoukian

Reavis Development Marketing

Broker

$297.8M

vol

14 deals

Broker

Jasper Wu

ZD Jasper

Seller

$666M

vol

21 deals

Seller

New York Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93