Robert S. Frankel Acquires Theater District Condo For $16.05M
217 West 57th Street, New York, NY, USA
$16,047,912
$4,718/SF
Building Size
3,401 SF
Asset Type
—
Closing
May 26, 2021
AI
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.
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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93