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611 West 56th Street

MRR Development Sells Condo At 611 West 56th Street For $2,520,168 With Douglas Elliman's Representation
SOLDCondo

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

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

Richard Nassimi

Douglas Elliman

Broker

$56.4M

vol

34 deals

Broker
Douglas Elliman
Douglas EllimanBrokerage

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

6.29%

Cash-on-Cash

-1.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93