88 Keys LLC Acquires Condo From Michael Stern And Kevin Maloney For $18M In Manhattan
111 West 57th Street
$18,000,000
$4,007/SF
Building Size
4,492 SF
Asset Type
Condo
Closing
Feb 19, 2026
About this deal
AI
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.
On the Map
$18,000,000
$4,007/SF
Condo
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New York Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93