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88 Keys LLC Acquires Condo From Michael Stern And Kevin Maloney For $18M In Manhattan
SOLD
$18,000,000
New York
See Similar DealsCondo4,492 SF
Sold
SOLD
88 Keys LLC Acquires Condo From Michael Stern And Kevin Maloney For $18M In Manhattan
111 West 57th Street
See Similar DealsCondo4,492 SF
Sold
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$4007
Total Square Footage:4492 SF
Transaction Type:Sale
88 Keys LLC acquired a condo at 111 West 57th Street in Central Park South, Manhattan, for $18 million. The property measures 4,492 square feet, resulting in a price per square foot of approximately $4,007. The sale was finalized on February 19, 2026.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $18,000,000
- Square Footage: 4,492
- Price per Square Foot: $4,007
- Buyer: 88 Keys LLC
- Seller: Michael Stern - JDS Development Group
- Seller: Kevin Maloney - PMG
- Sale Date: February 19, 2026
The transaction involved Michael Stern representing JDS Development Group and Kevin Maloney representing PMG in the sale of the condo to 88 Keys LLC. Their roles contributed to the successful completion of this property transfer in the Manhattan market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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