David Werner Real Estate Investments And Samual Fisch Acquire Commercial Condo At 5 Hanover Square For $17M
5 Hanover Square
$17,000,000
$345/SF
Building Size
49,183 SF
Asset Type
Condo
Closing
Jul 2, 2025
About this deal
AI
The asset involved in this transaction is a commercial condo located at 5 Hanover Square in the Financial District of Manhattan. The property was sold for $17,000,000, encompassing a total square footage of 49,183. The price per square foot for this transaction was calculated at $346.
Summary of transaction details:
- Property Type: Commercial Condo
- Transaction Amount: $17,000,000
- Address: 5 Hanover Square
- Market: Financial District, Manhattan
- Square Footage: 49,183
- Price Per Square Foot: $346
- Buyer: David Werner - David Werner Real Estate Investments & Samual Fisch
- Seller: Richard Ressler, Shaul Kuba & Avi Shemesh - CIM Group
The transaction was handled by David Werner Real Estate Investments and Samual Fisch as the buyers. The sellers were Richard Ressler, Shaul Kuba, and Avi Shemesh, representing CIM Group in the deal.
On the Map
$17,000,000
$345/SF
Condo
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Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $345 per square foot on a published $17M for 49,183 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93