Jeff Bezos Acquires $23M Condo Unit At 212 Fifth Ave. In Flatiron
212 Fifth Avenue, Manhattan, New York, NY, USA
$23,000,000
$5,535/SF
Building Size
4,155 SF
Asset Type
—
Closing
Aug 5, 2021
About this deal
AI
Jeff Bezos has expanded his real estate portfolio with the purchase of a 20th story condo unit at 212 Fifth Avenue in the Flatiron market. The condo unit was sold for $23 million and spans 4,155 square feet, resulting in a price per square foot of $5,535. This acquisition adds to Bezos' existing collection in the building, which includes a triplex penthouse and two units below, for a total investment of $96 million.
Summary of transaction details
- Property Type: Residential Condo
- Transaction Amount: $23,000,000
- Address: 212 Fifth Avenue
- Market: Flatiron
The development of 212 Fifth Avenue was a joint effort between Thor Equities, Madison Equities, and Building and Land Technology. They have successfully attracted high-profile buyers like Jeff Bezos, who recognizes the value of investing in this prestigious building. Bezos' purchase reflects his continued interest and confidence in the real estate market.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $5.5K per square foot on a published $23M for 4,155 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93