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.