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432 Park Avenue Condo Sold For $59.1M In Midtown Manhattan
SOLD
$59,100,000
New York
See Similar DealsCondo8,000 SF
Sold 10/23/2023
SOLD
432 Park Avenue Condo Sold For $59.1M In Midtown Manhattan
432 Park Avenue
See Similar DealsCondo8,000 SF
Sold 10/23/2023
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$7,387
Total Square Footage:8,000 SF
Transaction Type:Sale
A 79th-floor unit at 432 Park Avenue in Midtown Manhattan has been sold in a recent transaction. The condo was initially listed for $135 million but sold for $59.1 million, less than half of its original asking price. The sale took place after being on the market for two years.
Summary of transaction details
- Property Type: Condo
- Sale Price: $59,100,000
- Square Footage: 8,000 SF
- Price per Square Foot: $7,388
- Address: 432 Park Avenue
- Market: Midtown Manhattan
Noel Berk from Engel & Völkers represented the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,151,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$209,969.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$280,164.15
Annual Debt Service$3,361,969.82
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