Extell Development Company Acquires Condo At Central Park Tower For $45M
217 East 57th Street, New York City, New York 10019, United States
$45,000,000
$6,428,571/SF
Building Size
7 SF
Asset Type
Condo
Closing
Aug 12, 2022
About this deal
AI
Extell Development Company, led by Gary Barnett, has purchased a condo unit at 217 West 57th Street, Unit 122, in Central Park Tower. The transaction took place on 12/08/2022, for a sale price of $45,000,000. The condo spans approximately 7,000 square feet, resulting in a price per square foot of $6,429.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $45,000,000
- Address: 217 West 57th Street, Unit 122
- Market: Central Park Tower
- Buyer: Extell Development Company - Gary Barnett
- Square Footage: 7,000
- Price Per Square Foot: $6,429
Gary Barnett, representing Extell Development Company, facilitated the purchase of this luxury condo unit. The acquisition demonstrates Barnett's continued involvement in high-profile real estate deals.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $6.4M per square foot on a published $45M for 7 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93