Speed Post Condo Sold For $26.5M In Midtown Manhattan
SOLD
$26,500,000
New York
See Similar DealsCondo4,547 SF
Sold 08/25/2023
SOLD
Speed Post Condo Sold For $26.5M In Midtown Manhattan
111 W 57th St
See Similar DealsCondo4,547 SF
Sold 08/25/2023
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$5,828
Total Square Footage:4,547 SF
Transaction Type:Sale
The Speed Post property located at 111 W. 57th St. in Midtown has been sold in a closed transaction. This condominium unit features a total area of 4,492 square feet. The sale price for the property was $26,500,000, resulting in a price per square foot of $5,899.
Summary of transaction details:
- Property Type: Condo
- Sale Price: $26,500,000
- Square Footage: 4,492
- Price Per Square Foot: $5,899
- Address: 111 W. 57th St.
- Market: Midtown
The sale of the Speed Post condo was facilitated by the Chestler Jacobs Team from Douglas Elliman, represented by Jessica Chestler and Ben Jacobs. They acted as the brokers for the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$94,148.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$125,623.52
Annual Debt Service$1,507,482.24
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