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.
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New York Condo Market Snapshot
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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