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217 West 57th Street

Gary Barnett Sells $115M Condo At Central Park Tower In Midtown Manhattan
SOLDCondo

Gary Barnett Sells $115M Condo At Central Park Tower In Midtown Manhattan

217 West 57th Street

$115,000,000

$9,583/SF

Building Size

12,000 SF

Asset Type

Condo

Closing

Jun 14, 2024

AI

The condo located at 217 West 57th Street in Midtown Manhattan was sold for $115,000,000. The property spans 12,000 square feet with a price per square foot of $9,583.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $115,000,000
  • Address: 217 West 57th Street
  • Market: Midtown Manhattan

Gary Barnett of Extell Development led the sale of the condo, marking it as the most expensive residential deal in New York City since 2022. The deal was facilitated by brokers Fredrik Eklund, John Gomes, and Kent Wu from Douglas Elliman.

Players

Fredrik Eklund

Douglas Elliman

Broker

$771.5M

vol

27 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

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93