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
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