Karen & Michael Neus Acquire Lee Child's Co-Op At 257 Central Park West For $9.1M
257 Central Park West
$9,100,000
Building Size
—
Asset Type
Co-Op
Closing
Aug 5, 2024
About this deal
AI
The property asset involved in this transaction is a three-bedroom co-op located at 257 Central Park West in the Upper West Side market. It was sold for $9,100,000, slightly below the $9.2 million purchase price from 2014.
Summary of transaction details:
- Property Type: Co-Op
- Transaction Amount: $9,100,000
- Buyer: Karen & Michael Neus
- Seller: Lee Child
- Buyer's Representative: Rachel Glazer - Compass
- Seller's Representative: Tracie Hamersley - Douglas Elliman
The buyers, Michael Neus and his wife Karen, were primarily attracted to the property itself rather than the seller's celebrity status. Lee Child represented the seller in this transaction through his broker, Tracie Hamersley from Douglas Elliman.
On the Map
$9,100,000
Co-Op
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Players
New York Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93