Record Sales Price, Long Island City
There are many headlines about increasing condo supply across New York City. However, some properties have so much intrinsic value that a record price is warranted, even in today's market.
We are announcing the record sale of apartment 7A and deeded parking space 41 at 5th Street Lofts in Long Island City where we exclusively represented the seller. 5th Street Lofts is Toll Brothers' only condominium development in Queens.
The contract was signed on May 31, 2019 and we just closed. The final price was $1,780,000 which reflects a premium of 11% above the building's prior record for a 2 bedroom with a parking spot, $1,605,000.
To help make the real estate market more transparent, we publish The Smith Report, the most trusted source for Long Island City real estate market reports. Please request our latest report by visiting the following website:
thesmithteam.nyc/market-reports
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