Natanel Malkoukian Of Nest Seekers Acquires 58-Unit Condo In Long Island City For $72.3M
SOLD
$72,290,000
New York
See Similar DealsCondo51,884 SF
Sold 02/14/2022
SOLD
Natanel Malkoukian Of Nest Seekers Acquires 58-Unit Condo In Long Island City For $72.3M
5 Court Square
See Similar DealsCondo51,884 SF
Sold 02/14/2022
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$1,393
Total Square Footage:51,884 SF
Transaction Type:Sale
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.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,855,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$256,831.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$342,691.48
Annual Debt Service$4,112,297.77
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