James Stephen Turner III Acquires Condo At 16 5th Avenue Manhattan From Josh Zegen For $16.5M
16 5th Avenue
$16,500,000
$4,427/SF
Building Size
3,727 SF
Asset Type
Condo
Closing
May 17, 2026
AI
A 3,727-square-foot luxury condo unit located at 16 5th Avenue in Manhattan has been sold for $16.5 million. The transaction reflects a price of $4,427 per square foot, representing a premium market value.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $16,500,000
- Buyer: James Stephen Turner III
- Seller: Josh Zegen - Madison Realty Capital
- Square Footage: 3,727
- Price Per Square Foot: $4,427
This transaction involved James Stephen Turner III purchasing the property from Josh Zegen, who is affiliated with Madison Realty Capital. The deal showcases the high-value residential market in Manhattan.
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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93