Jacob Arabo Purchases Condo In Midtown Manhattan For $4.72M With Douglas Elliman As Brokers
53 West 53rd Street
$4,720,000
$2,301/SF
Building Size
2,051 SF
Asset Type
Condo
Closing
Jun 18, 2025
About this deal
AI
The property asset involved in the transaction is a condo located at 53 West 53rd Street in Midtown Manhattan. It features 2,051 square feet of living space and was sold for $4,720,000, which translates to a price per square foot of approximately $2,301.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $4,720,000
- Address: 53 West 53rd Street
- Market: Midtown Manhattan
- Square Footage: 2,051
- Price per Square Foot: $2,301
- Buyer: Jacob Arabo
- Brokers: Shari Scharfer-Rollins, Jade Chan, Frances Katzen & Richard Nassimi - Douglas Elliman
Jacob Arabo, also known as Jacob the Jeweler, purchased this luxury condo for his son in a tower designed by noted architect Jean Nouvel, adding a personal connection to the acquisition within an esteemed urban environment.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $2.3K per square foot on a published $4.7M for 2,051 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.36%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93