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Penthouse At 277 5th Avenue Goes Under Contract For $20 Million By Sotheby's Brokers
SOLD
$20,000,000
+ 1
New York
See Similar DealsCondo4,500 SF
Sold
SOLD
Penthouse At 277 5th Avenue Goes Under Contract For $20 Million By Sotheby's Brokers
277 5th Avenue
See Similar DealsCondo4,500 SF
Sold
+ 1
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$4444
Total Square Footage:4500 SF
Transaction Type:Sale
The asset involved in this transaction is a condo located at 277 5th Avenue in the NoMad market. It is listed for an asking price of $20,000,000 and spans 4,500 square feet, equating to a price per square foot of $4,444.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $20,000,000
- Address: 277 5th Avenue
- Market: NoMad
- Square Footage: 4,500
- Price per Square Foot: $4,444
- Asking Price: $20,000,000
- Broker Representatives: Mara Flash Blum & Nikki Field - Sotheby's International Realty
This transaction is notable for its timeline; Penthouse 54 at 277 Fifth Avenue entered contract last week after initially asking for $23,000,000 in 2017. This deal marks it as the priciest among 25 Manhattan homes that were sold for $4,000,000 or more between January 6-12.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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