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Tim Gong Acquires Condo At 111 West 57th Street In Midtown Manhattan For $34M
SOLD
$34,000,000
New York
See Similar DealsCondo
Sold 11/29/2022
SOLD
Tim Gong Acquires Condo At 111 West 57th Street In Midtown Manhattan For $34M
111 West 57th Street,Midtown Manhattan,New York
See Similar DealsCondo
Sold 11/29/2022
Summary
NEW YORK
Asset Type:Condo
Transaction Type:Sale
Tim Gong has purchased a condo at 111 West 57th Street in Midtown Manhattan for a transaction price of $34,000,000. The property is located in a prime location in Midtown Manhattan and offers luxurious amenities.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $34,000,000
- Address: 111 West 57th Street
- Market: Midtown Manhattan
Tim Gong was represented by Chris Fry from Elegran Real Estate in this deal. Chris Fry played a crucial role in negotiating the terms of the transaction and ensuring a successful closing for Tim Gong.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$120,794.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$161,177.35
Annual Debt Service$1,934,128.15
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