David Werner Real Estate Investments And Samual Fisch Acquire Commercial Condo From CIM Group For $34M
5 Hanover Square
$34,000,000
$162/SF
Building Size
209,240 SF
Asset Type
Condo
Closing
Jul 2, 2025
About this deal
AI
A commercial condo located at 5 Hanover Square in the Financial District of Manhattan has been sold. The property encompasses a total area of 209,240 square feet and was transacted for a sale price of $34,000,000, translating to a price per square foot of $162.
Summary of transaction details:
- Property Type: Commercial Condo
- Transaction Amount: $34,000,000
- Sale Date: 07/02/2025
- Buyer: David Werner - David Werner Real Estate Investments & Samual Fisch
- Seller: Richard Ressler - CIM Group
- Additional Investment: $17,000,000 for other units in the building
David Werner and Samual Fisch have entered into this transaction representing the buyers in acquiring the office and retail condo from CIM Group, headed by Richard Ressler, marking a significant move within the FiDi market.
On the Map
$34,000,000
$162/SF
Condo
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Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $162 per square foot on a published $34M for 209,240 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93