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217 West 57th Street

Gary Barnett Of Extell Development Sells Condo At Central Park Tower For $43.5M
SOLDCondo

Gary Barnett Of Extell Development Sells Condo At Central Park Tower For $43.5M

217 West 57th Street

$43,500,000

$5,723/SF

Building Size

7,600 SF

Asset Type

Condo

Closing

Sep 13, 2024

AI

A five-bedroom apartment located at 217 West 57th Street, Midtown Manhattan, was sold for $43,500,000, representing a square footage of 7,600 and priced at approximately $5,724 per square foot. The property is part of Extell's Central Park Tower.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $43,500,000
  • Sale Date: 09/13/2024
  • Seller: Gary Barnett - Extell Development
  • Broker: Janice Chang - Douglas Elliman
  • Original Listing Price: $75,000,000
  • Discount: 42%

This transaction involved Gary Barnett representing Extell Development as the seller, with Janice Chang from Douglas Elliman acting as the broker in the sale process. The buyer remains unidentified.

Players

Janice Chang

Douglas Elliman

Broker

$106.2M

vol

3 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

0.36%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93