Robert S. Frankel Acquires Theater District Condo For $16.05M
SOLD
$16,047,912
New York
See Similar Deals3,401 SF
Sold 05/27/2021
SOLD
Robert S. Frankel Acquires Theater District Condo For $16.05M
217 West 57th Street, New York, NY, USA
See Similar Deals3,401 SF
Sold 05/27/2021
Summary
NEW YORK
Price Per Square Foot:$4,718
Total Square Footage:3,401 SF
Transaction Type:Sale
The condo located at 217 West 57TH Street in the Theater District has been sold in a recent transaction. Spanning a total of 3,401 square feet, the property was sold for a price of $16,047,912, resulting in a price per square foot of $4,718. The sale took place on May 27, 2021.
Summary of Transaction Details
- Property Type: Condo
- Transaction Amount: $16,047,912
- Address: 217 West 57TH Street, Theater District
- Square footage: 3,401
- Price per square foot: $4,718
- Buyer: Robert S. Frankel
- Seller: Caroline Berman
The condo, situated in the Theater District, has been acquired by Robert S. Frankel from the seller, Caroline Berman. The property is zoned as C5-3, C5-1, MID. The lot size measures 55,862 square feet with dimensions of 150 feet by 200.84 feet.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$855,888.64
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,014.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,075.29
Annual Debt Service$912,903.48
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