Demir Sabanci Purchases Mixed-use Property From George Comfort For $77.5M At 37 West 57th Street
37 West 57th Street
$77,500,000
Building Size
—
Asset Type
Mixed-use
Closing
Apr 24, 2024
AI
The transaction involves a mixed-use asset located at 37 West 57th Street. The purchase price for the property was $77,500,000.00.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $77,500,000.00
- Buyer: Demir Sabanci
- Seller: George Comfort
- Brokers: Josh Augenbaum - Augenbaum Realty
- Sale Date: 04/24/2024
This deal involves key figures, including Demir Sabanci, who acquired the property, and George Comfort, the seller. Josh Augenbaum represented the transaction through Augenbaum Realty, facilitating the sale between the buyer and seller.
Players
NYC Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93