Resident Of Mandarin Oriental Purchases Condo At 685 5th Avenue For $17M With Jade Chan's Representation

A condo located at 685 5th Avenue in Midtown Manhattan has been sold. The transaction occurred for a price of $17,000,000. The condo spans 3,374 square feet, which equates to a price per square foot of $5,039.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $17,000,000
• Sale Price: $17,000,000
• Square Footage: 3,374
• Price per Square Foot: $5,039
• Address: 685 5th Avenue
• Market: Midtown Manhattan
• Broker: Jade Chan - Douglas Elliman

Michael Shvo’s Mandarin Oriental was the previous residence of the buyer, who has now acquired a second condo. This sale occurred at a price significantly lower than the original asking price of $22,000,000, indicating a strategic deal.