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Yang Cao Purchases Condo From Michael Stern And Michael Maloney For $12M In Manhattan
SOLD
$12,000,000
New York
See Similar DealsCondo4,492 SF
Sold 02/19/2025
SOLD
Yang Cao Purchases Condo From Michael Stern And Michael Maloney For $12M In Manhattan
111 West 57th Street
See Similar DealsCondo4,492 SF
Sold 02/19/2025
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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