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111 W 57th St

Speed Post Condo Sold For $26.5M In Midtown Manhattan
SOLDCondo

Speed Post Condo Sold For $26.5M In Midtown Manhattan

111 W 57th St

$26,500,000

$5,828/SF

Building Size

4,547 SF

Asset Type

Condo

Closing

Aug 25, 2023

AI

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.

Players

Ben Jacobs

Douglas Elliman

Broker

$50M

vol

6 deals

Broker

New York Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.60%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93