Kerim Sabanci Acquires Condo At 641 5th Avenue, Midtown Manhattan For $4.25M
641 5th Avenue
$4,500,000
$2,514/SF
Building Size
1,790 SF
Asset Type
Condo
Closing
Sep 7, 2023
About this deal
AI
Located at 641 5th Avenue in Midtown Manhattan, this condo property was recently sold in a closed transaction. The buyer, Kerim Sabanci, purchased the condo from the seller, Amer Radwan, for a price of $4,250,000. The condo spans 1,790 square feet, resulting in a price per square foot of $2,374, making it one of the highest recorded prices per square foot at the Olympic Tower in years.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $4,250,000
- Address: 641 5th Avenue
- Market: Midtown Manhattan
Richard Nassimi of The Nassimi Team at Douglas Elliman represented both the buyer, Kerim Sabanci, and the seller, Amer Radwan, in this sale. The Nassimi Team is known for their expertise in the real estate market, and their involvement in this transaction emphasizes their successful track record in negotiating closed deals.
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $2.5K per square foot on a published $4.5M for 1,790 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93