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37 West 57th Street

Demir Sabanci Purchases Mixed-use Property From George Comfort For $77.5M At 37 West 57th Street
SOLDMixed-use

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

Josh Augenbaum

Augenbaum Realty

Broker

$652.8M

vol

140 deals

Broker

Demir Sabanci

Buyer

$80M

vol

1 deal

Buyer

George Comfort

Seller

$219.5M

vol

9 deals

Seller

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