Ram Li Purchases Condo At 611 West 56th Street For $2.423M With Richard Nassimi & Gilad Azaria As Seller's Representatives
611 West 56th Street
$2,423,000
$1,566/SF
Building Size
1,547 SF
Asset Type
Condo
Closing
Mar 25, 2025
AI
The property asset involved in this transaction is a condo located at 611 West 56th Street, 21-B in the Hell's Kitchen market. The sale price of the condo was $2,423,000, with a total area of 1,547 square feet, resulting in a price per square foot of $1,566.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $2,423,000
- Address: 611 West 56th Street, 21-B
- Market: Hell's Kitchen
- Square Footage: 1,547
- Price Per Square Foot: $1,566
- Buyer: Ram Li
- Developer: Sumaida + Khurana & LENY
- Seller's Representative: Richard Nassimi & Gilad Azaria - Douglas Elliman
Ram Li is the buyer who has acquired the property, while Richard Nassimi and Gilad Azaria from Douglas Elliman represented the seller in this transaction. The involvement of the developer, Sumaida + Khurana and LENY, is also noteworthy in the context of the property sale.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.55%
Cash-on-Cash
-1.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93