His Majesty The King In Right Of Canada Acquires Condo At 111 West 57th Street For $6.6M
111 West 57th Street
$6,634,875
$1,842/SF
Building Size
3,601 SF
Asset Type
Condo
Closing
Jul 10, 2024
AI
The property involved in the transaction is a luxury condominium unit, Unit 11A at 111 West 57th Street in Midtown Manhattan, New York City. The condo, situated in the landmarked Steinway Hall portion of the building, was sold for $6.6 million. Spanning 3,601 square feet, the unit was acquired by an entity associated with His Majesty the King in Right of Canada from the seller, JDS Development Group.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $6,634,875
- Address: 111 West 57th Street
- Market: Midtown Manhattan
- Square Footage: 3,601
- Price per Square Foot: $1,843
- Buyer: His Majesty the King in Right of Canada
- Seller: JDS Development Group
- Brokers: Erin Boisson Aries & Thomas Aabo - Douglas Elliman
The deal's key individuals and companies behind the transaction include Erin Boisson Aries and Thomas Aabo from Douglas Elliman, who facilitated the sale between the buyer and the seller, showcasing their expertise in luxury property transactions in the prestigious market of Midtown Manhattan.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.39%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93