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Eden Purchasers Acquires Condo Sellout In Long Island City For $62 Million

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SOLD
$62,000,000

New York

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Condo45,238 SF
Sold 08/30/2024
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SOLD

Eden Purchasers Acquires Condo Sellout In Long Island City For $62 Million

37-26 32nd Street

See Similar Deals
Condo45,238 SF
Sold 08/30/2024
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Summary

NEW YORK
Asset Type:Condo
Price Per Square Foot:$1,370
Total Square Footage:45,238 SF
Transaction Type:Sale

37-26 32nd Street is situated in Long Island City and involves a condo sellout transaction. The sale price was $62,000,000, and the total square footage of the asset is 45,238, which translates to a price per square foot of $1,370.

Summary of transaction details:

  • Property Type: Condo Sellout
  • Transaction Amount: $62,000,000
  • Address: 37-26 32nd Street
  • Market: Long Island City
  • Square Footage: 45,238
  • Price Per Square Foot: $1,370
  • Buyer: Eden Purchasers - Habitat Management
  • Seller: Zhongyin Lyu
  • Seller's Representative: Xiao Rui Lin & Stelios Hiotis - Nest Seekers International

The transaction involved the buyer, Eden Purchasers, represented by Habitat Management, and the seller, Zhongyin Lyu, who had representation from Xiao Rui Lin & Stelios Hiotis at Nest Seekers International, indicating a collaborative effort between parties in the execution of this property deal.

Players

Stelios Hiotis
1 deal$62M volume(646) 341-0404
BROKER

Xiao Rui Lin
Nest Seekers International
1 deal$62M volume(917) 756-7800
BROKER

Details

SOLD
IMAGE: Xiao Rui Lin & Stelios Hiotis DATE: 08/30/2024 ADDRESS: 37-26 32nd Street MARKET: Long Island City ASSET TYPE: Condo Sellout BUYER: Eden Purchasers - Habitat Management SELLER: Zhongyin Lyu SELLER'S REP: Xiao Rui Lin (@XiaoRuiLin_r) & Stelios Hiotis (@HiotissStelios) - Nest Seekers International (@NestSeekers) SALE PRICE: $62,000,000 SF: 45,238 ~ PPSF: $1,370

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$220,272.90
Cash-on-Cash Return-1.27%
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