Daily limit: 0/10
Resident Of Mandarin Oriental Purchases Condo At 685 5th Avenue For $17M With Jade Chan's Representation
SOLD
$17,000,000
New York
See Similar DealsCondo3,374 SF
Sold 10/29/2024
SOLD
Resident Of Mandarin Oriental Purchases Condo At 685 5th Avenue For $17M With Jade Chan's Representation
685 5th Avenue
See Similar DealsCondo3,374 SF
Sold 10/29/2024
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$5,038
Total Square Footage:3,374 SF
Transaction Type:Sale
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.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
Is there something missing? Send suggestions