JDS Development Group Acquires Residential Condo At 111 West 57th St In Midtown Manhattan For $50M
SOLD
$50,000,000
+ 2
New York
See Similar Deals7,103 SF
Sold 12/10/2020
SOLD
JDS Development Group Acquires Residential Condo At 111 West 57th St In Midtown Manhattan For $50M
111 West 57th Street, New York, NY, USA
See Similar Deals7,103 SF
Sold 12/10/2020
+ 2
Summary
NEW YORK
Price Per Square Foot:$7,039
Total Square Footage:7,103 SF
Transaction Type:Sale
A residential condo located at 111 West 57th Street in Midtown was recently sold in December 2020. The property was sold for approximately $50,000,000 and spans a total area of 7,103 square feet. The price per square foot is approximately $7,039. The sale was facilitated by Tal Alexander, Janice Chaing, Holly Parker, Roger Erickson, and Amy Williamson, all representing Douglas Elliman.
Summary of transaction details:
- Property Type: Residential Condo
- Transaction Amount: $50,000,000 (approx.)
- Address: 111 West 57th Street, Midtown
- Market: Midtown
- Developer: JDS Development Group, Spruce Capital Partners, and PMG Development
Tal Alexander, Janice Chaing, Holly Parker, Roger Erickson, and Amy Williamson, all from Douglas Elliman, played crucial roles as brokers in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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