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111 West 57th Street

Yang Cao Purchases Condo From Michael Stern And Michael Maloney For $12M In Manhattan
SOLDCondo

Yang Cao Purchases Condo From Michael Stern And Michael Maloney For $12M In Manhattan

111 West 57th Street

$12,000,000

$2,671/SF

Building Size

4,492 SF

Asset Type

Condo

Closing

Feb 19, 2025

AI

Yang Cao purchased a condo at 111 West 57th Street in Manhattan's Central Park South for $12 million, totaling 4,492 square feet. The price equates to $2,671 per square foot. The sellers of the property were Michael Stern and Michael Maloney.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $12,000,000
  • Square Footage: 4,492
  • Price Per Square Foot: $2,671
  • Address: 111 West 57th Street, Central Park South, Manhattan
  • Buyer: Yang Cao
  • Sellers: Michael Stern & Michael Maloney

This deal involved the coordinated efforts of Yang Cao as the buyer, while Michael Stern and Michael Maloney represented the selling side of the transaction, facilitating the exchange of the property.

Players

Michael Stern

Seller

$1.8B

vol

18 deals

Seller

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

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93