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257 Central Park West

Karen & Michael Neus Acquire Lee Child's Co-Op At 257 Central Park West For $9.1M
SOLDCo-Op

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

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:

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.

Players

Rachel Glazer

Compass

Broker

$30.2M

vol

5 deals

Broker

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