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Karen & Michael Neus Acquire Lee Child's Co-Op At 257 Central Park West For $9.1M
SOLD
$9,100,000
New York
See Similar DealsCo-Op
Sold 08/05/2024
SOLD
Karen & Michael Neus Acquire Lee Child's Co-Op At 257 Central Park West For $9.1M
257 Central Park West
See Similar DealsCo-Op
Sold 08/05/2024
Summary
NEW YORK
Asset Type:Co-Op
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$485,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,330.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,138.64
Annual Debt Service$517,663.71
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