NOT LISTED FOR SALE

Estimated Value: $1,128,102 - $1,585,000

-- Bed
1 Bath
1,385 Sq Ft
4.89 Acres

Last Sold May 31, 2023

Last sale price $1,465,000 $1,058 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $8,441/month

22 Days on Market

Highlights

  • City View
  • 2-minute walk to Long Island City-Court Square
  • 1-Story Property
  • P.S./I.S. 78Q Early Childhood Center Rated A
  • 4.89 Acre Lot
  • 1-minute walk to Court Square Park

About This Home

As of May 2023

Welcome to this exceptional 1,385 sq. ft. loft! Masterfully designed residence 554 is a Zen oasis located in the heart of Long Island City and sits on a high floor facing the most desirable street of Arris Lofts. As you enter this pristine and modern residence, the gorgeous entry leads to an artistic gallery that opens up to an airy and expansive great room with stunning 14 ft ceilings. The airport-grade soundproof windows bring in only peace and abundance of natural light all day. The stylish, open-plan kitchen equipped with high-end stainless-steel appliances is minimalist and functional which is perfect for entertaining. The grand-style open-concept living room, dining area, and kitchen all flow together, while generously sized primary sleeping area has elegant sliding glass doors which can be left open to maintain Soho lofty look or closed off for privacy. The adjoining second room is cozy and sophisticated which can be a guest bedroom or home office. Beautifully designed split bathrooms are spacious, fuctional, and efficient with a rainfall shower and two separate vanities while keeping clean and minimalist aesthetic. There are two large closets and a generous size of laundry room with a new washer/dryer and additional storage space. 54 sq. ft. (9' x 6') private storage in the building basement is a bonus! Arris Lofts, once a home of the Eagle Electric factory, was designed by award-winning architect, Costas Kondylis, and converted to a premier luxury condominium in 2008. This pet-friendly condo offers 24-hour doorman and concierge service. A 4,700 sq. ft. lobby with a fireplace overlooks a 6,000 sq. ft. Zen garden with a pond. The building has 8,700 sq. ft. world class fitness center, full lap pool, sauna, and 3,300 sq. ft. amenity room. Residents also enjoy 6,000 sq. ft. roof terrace with stunning views. Charmingly redesigned and fully renovated lobby and hallways were just completed. For convenience, a bike room and parking garage are located in the building as well as a municipal garage is just across the street. This beautiful condominium is only one stop from Manhattan and ideally situated with easy access to all public transportation (E, M, 7, G, F, N, and R trains), schools, museums, parks, restaurants, and grocery stores including Trader Joe's 2 minutes away.

Last Agent to Sell the Property

You Jin Lee

Promise Realty LLC License #10401371611 Listed on: 03/19/2023

Last Buyer's Agent

You Jin Lee

Promise Realty LLC License #10401371611 Listed on: 03/19/2023

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $4,957

Year Built

  • Built in 1920

Lot Details

  • No Common Walls

Home Design

  • Insulated Concrete Forms
  • Concrete Fiber Board Siding

Interior Spaces

  • 1 Full Bathroom
  • 1,385 Sq Ft Home
  • 1-Story Property
  • City Views

Parking

  • Public Parking
  • Private Parking
  • On-Street Parking

Schools

  • Ps/Is 78 Middle School
  • Long Island City High School

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Legal Lot and Block 1200 / 82
  • Assessor Parcel Number 00082-1200

Community Details

Overview

  • Mid-Rise Condominium
  • Arris Lofts

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$4,957

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Residential
  • Architectural Style: Mid-Rise
  • Property SubType: Condominium
  • Levels: One
  • Year Built: 1920
  • New Construction: No
  • Ownership: Condo
  • Subdivision Name: Arris Lofts
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Living Area Units: Square Feet
  • Common Walls: No Common Walls
  • Full Bathrooms: 1
  • Basement: None
  • Entry Level: 5
  • Living Area: 1385
  • AtticDescription: None
  • SquareFootage: 1385.00

Exterior Features

  • Construction Materials: ICFs (Insulated Concrete Forms), Concrete Fiber Board
  • View: City
  • View YN: Yes
  • FloodZoneReportYN: 0

Garage/Parking

  • Attached Garage: No
  • Garage: No
  • Parking Description: Private, Public Parking, On Street

Utilities

  • Cooling: Central Air
  • Cooling: Yes
  • Heating: Other, Electric
  • Sewer: Public Sewer
  • Water Source: Public
  • GarbageRemoval: Private
  • Hot Water: See Remarks

Condo/Co-op/Association

  • Senior Community: No
  • DevelopmentName: Arris Lofts

Fee Information

  • AdditionalFeesYN: 0

Schools

  • Middle School: Ps/Is 78

Lot Info

  • Lot Size Acres: 4.89
  • Lot Size Area: 4.89
  • Lot Size Sq Ft: 213181
  • Parcel Number: 00082-1200
  • Property Attached: No

Rental Info

  • Lease Considered: No
  • Pets Allowed: Yes

Tax Info

  • Tax Annual Amount: 4956.8
  • Tax Block: 82
  • Tax Lot: 1200
  • Tax Map Number: 00082-1200

MLS Schools

  • High School: Long Island City High School
  • Middle School District: Queens 30

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 19, 2023
Closed on
May 31, 2023
Sold by
Alsoudani Ahmed
Bought by
Shroff Sonali and Skandan Alan
Seller's Agent
You Jin Lee
Promise Realty LLC
Buyer's Agent
You Jin Lee
Promise Realty LLC
List Price
$1,465,000
Sold Price
$1,465,000
Views
67
Current Estimated Value
$1,437,276

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$27,724
Avg. Annual Appreciation
-0.83%
Original Mortgage
$750,000
Outstanding Balance
$730,881
Interest Rate
6.43%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$706,395

Purchase Details

Closed on
Mar 30, 2010
Sold by
Tag Court Square Llc
Bought by
Alsoudani Ahmed

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$404,100
Interest Rate
4.97%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Shroff Sonali $1,465,000 --
Alsoudani Ahmed $685,791 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Shroff Sonali $750,000
Previous Owner Alsoudani Ahmed $404,100
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/31/2023 05/31/23 Sold $1,465,000 0.0% $1,058 / Sq Ft
04/10/2023 04/10/23 Pending -- -- --
03/19/2023 03/19/23 For Sale $1,465,000 -- $1,058 / Sq Ft
Source: OneKey® MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $8,039 $66,019 $3,560 $62,459
2024 $5,589 $64,299 $3,560 $60,739
2023 $7,831 $62,636 $3,560 $59,076
2022 $4,945 $65,938 $3,560 $62,378
2021 $3,238 $56,669 $3,560 $53,109
2020 $2,170 $62,767 $3,560 $59,207
2019 $545 $60,425 $3,560 $56,865
2018 $453 $51,024 $3,559 $47,465
2017 $453 $48,230 $3,559 $44,671
2016 $459 $48,230 $3,559 $44,671
2015 -- $43,980 $3,814 $40,166
2014 -- $43,252 $3,827 $39,425
Source: Public Records

Agents Affiliated with this Home

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Map

Source: OneKey® MLS

MLS Number: KEY3465548

OneKey® MLS

APN: 00082-1200