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John Ducoff Of Covenant House Purchases Condo From David L. Picket For $7.5M In Manhattan
SOLD
$7,500,000
New York
See Similar DealsCondo27,000 SF
Sold 03/28/2025
SOLD
John Ducoff Of Covenant House Purchases Condo From David L. Picket For $7.5M In Manhattan
475 West 40th Street
See Similar DealsCondo27,000 SF
Sold 03/28/2025
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$277
Total Square Footage:27,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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