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
About this deal
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.
On the Map
$43,500,000
$5,723/SF
Condo
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About $5.7K per square foot on a published $43.5M for 7,600 square feet (2024).
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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