Extell Development Sells Condo At 217 West 57th Street In Midtown For $43M. Triplemint Represents Buyer
217 West 57th Street, New York City, New York 10019, United States
$43,000,000
$17,241/SF
Building Size
2,494 SF
Asset Type
—
Closing
Aug 7, 2022
AI
Located at 217 West 57th Street in Midtown, this condo property was recently sold in a closed transaction. The property, consisting of 7,000 square feet, was sold for a total price of $43,000,000, resulting in a price per square foot of $6,142. The seller of this property was Extell Development, represented by Gary Barnett, while the buyer was represented by James Michael Angelo from Triplemint.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $43,000,000
- Address: 217 West 57th Street
- Market: Midtown
Gary Barnett, the developer of the property under Extell Development, was responsible for selling this condo unit. James Michael Angelo from Triplemint acted as the buyer's representative in this deal. The transaction took place on 08/08/2022.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93