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Gary Barnett Of Extell Development Sells Condo At 50 West 66th Street For $19.5M

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SOLD
$19,500,000

New York

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Condo7,000 SF
Sold 01/20/2025
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SOLD

Gary Barnett Of Extell Development Sells Condo At 50 West 66th Street For $19.5M

50 West 66th Street

See Similar Deals
Condo7,000 SF
Sold 01/20/2025
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Summary

NEW YORK
Asset Type:Condo
Price Per Square Foot:$2,785
Total Square Footage:7,000 SF
Transaction Type:Sale

The property asset involved in this transaction is a condo located at 50 West 66th Street in Manhattan. The unit has a total square footage of 7,000 and is contracted for a price of $19,500,000. The price per square foot is calculated at $2,786.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $19,500,000
  • Address: 50 West 66th Street
  • Market: Manhattan
  • Square Footage: 7,000
  • Price per Square Foot: $2,786
  • Seller: Gary Barnett - Extell Development
  • Buyer's Representative: Todd Lewin - Compass
  • Seller's Representative: Hilary Landis - The Corcoran Group

This transaction secured by Extell Development involves key representation from Todd Lewin, who represents the buyer, and Hilary Landis, who represents the seller. The contract marks a significant deal within the Manhattan real estate market occurring between January 13 and January 19, 2025.

Players

Todd Lewin
3 deals$33.7M volume
BROKER

Hilary Landis
The Corcoran Group
2 deals$32.5M volume(917) 776-3218
BROKER

Details

SOLD
IMAGE: - UNDER CONTRACT IMAGE: Todd Lewin, Gary Barnett & Hilary Landis DATE: 01/20/2025 ADDRESS: 50 West 66th Street MARKET: Manhattan ASSET TYPE: Condo SELLER: Gary Barnett - Extell Development (@Extell) BUYER'S REP: Todd Lewin - Compass (@Compass) SELLER'S REP: Hilary Landis (@Hilary__Landis) - The Corcoran Group (@TheCorcoranGroup) PRICE: $19,500,000 SF: 7,000 ~ PPSF: $2,786 NOTE: Extell Development's 50 West 66th Street secured a $19.5 million contract for a combined 7,000-square-foot unit, marking the most expensive Manhattan deal between Jan. 13–19.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
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