MRR Development Sells Condo At 611 West 56th Street For $2,520,168 With Douglas Elliman's Representation
611 West 56th Street
$2,520,168
$1,629/SF
Building Size
1,547 SF
Asset Type
Condo
Closing
May 27, 2025
About this deal
AI
This condo located at 611 West 56th Street in Hell's Kitchen, Manhattan was sold for a total of $2,520,168. The property spans 1,547 square feet, which equates to a price per square foot of $1,629.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $2,520,168
- Square Footage: 1,547
- Price Per Square Foot: $1,629
- Seller: MRR Development
- Seller's Representative: Richard Nassimi & Gilad Azaria - Douglas Elliman
- Date of Sale: 5/28/2025
- Market: Hell's Kitchen, Manhattan
- Note from Broker: Off Market
The transaction involved key individuals Richard Nassimi and Gilad Azaria, representing MRR Development through Douglas Elliman as they facilitated the deal. The sale was conducted off the market, indicating a private transaction without public listing.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $1.6K per square foot on a published $2.5M for 1,547 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.29%
Cash-on-Cash
-1.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93