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

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SOLD
$12,000,000

New York

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Condo4,492 SF
Sold 02/19/2025
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Property Image
SOLD

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

111 West 57th Street

See Similar Deals
Condo4,492 SF
Sold 02/19/2025
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Summary

NEW YORK
Asset Type:Condo
Price Per Square Foot:$2,671
Total Square Footage:4,492 SF
Transaction Type:Sale

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

18 deals$1.8B volume
SELLER

Details

SOLD
IMAGE: Michael Stern & Michael Maloney DATE: 02/19/2025 ADDRESS: 111 West 57th Street MARKET: Central Park South, Manhattan ASSET TYPE: Condo BUYER: Yang Cao SELLER: Michael Stern & Michael Maloney SALE PRICE: $12,000,000 SF: 4,492 ~ PPSF: $2,671 NOTE: Yang Cao purchased a 4,492 square foot condo at 111 West 57th Street in Manhattan's Central Park South for $12 million, equating to $2,671 per square foot. The property was sold by Michael Stern and Michael Maloney.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$640,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
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