Tim Gong Acquires Condo At 111 West 57th Street In Midtown Manhattan For $34M
111 West 57th Street,Midtown Manhattan,New York
$34,000,000
Building Size
—
Asset Type
Condo
Closing
Nov 29, 2022
About this deal
AI
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.
On the Map
$34,000,000
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
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93