JDS Development Group Sells Condo At 111 West 57th Street In Midtown Manhattan For $12.95M
111 W 57th St
$12,950,000
$2,848/SF
Building Size
4,547 SF
Asset Type
Condo
Closing
Nov 8, 2023
AI
The recently closed sale of a condo at 111 West 57th Street in Midtown Manhattan has garnered attention in the real estate market. The property, spanning 4,547 square feet, was sold for a price of $12,950,000. With a price per square foot of $2,848, this condo showcases luxury and elegance in the heart of the city.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $12,950,000
- Address: 111 West 57th Street
- Market: Midtown Manhattan
- Square Footage: 4,547
- Seller: Michael Stern - JDS Development Group
- Buyer's Representative: Yiyi Zhuang - Sotheby's International Realty
- Seller's Representative: Corcoran
The sale was facilitated by Yiyi Zhuang from Sotheby's International Realty, representing the buyer. The seller, Michael Stern, belonged to JDS Development Group. Corcoran played a crucial role as the seller's representative. This deal highlights the trust and confidence placed in these industry professionals, contributing to a successful transaction in the competitive New York City real estate market.
Players
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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93