John Ducoff Of Covenant House Purchases Condo From David L. Picket For $7.5M In Manhattan
475 West 40th Street
$7,500,000
$277/SF
Building Size
27,000 SF
Asset Type
Condo
Closing
Mar 28, 2025
AI
A commercial condominium located at 475 West 40th Street in Hudson Yards, Manhattan, has been sold for $7,500,000. The condominium spans 27,000 square feet, translating to a price per square foot of $278.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $7,500,000
- Address: 475 West 40th Street
- Market: Hudson Yards, Manhattan
- Square Footage: 27,000
- Price per Square Foot: $278
- Buyer: John Ducoff - Covenant House
- Seller: David L. Picket - Gotham Organization
This transaction was characterized by the involvement of John Ducoff representing Covenant House as the buyer and David L. Picket representing Gotham Organization as the seller.
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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93