Demir Sabanci Acquires Mixed-use Property At 45 West 57th St From Peter Lax For $29.5M
45 West 57th St
$29,500,000
Building Size
—
Asset Type
Mixed-use
Closing
Dec 21, 2010
About this deal
AI
The asset involved in this transaction is a mixed-use property located at 45 West 57th St, which was sold for $29,500,000.00. This sale represents a significant transaction within this asset class in the market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $29,500,000.00
- Buyer: Demir Sabanci
- Seller: Peter Lax
- Brokers: Josh Augenbaum (Augenbaum Realty)
- Date of Sale: 12/21/2010
The key individuals involved in this transaction include Demir Sabanci, who acted as the buyer in acquiring the property, and Peter Lax, the seller who transferred ownership. The brokerage firm Augenbaum Realty was represented by broker Josh Augenbaum in facilitating the deal.
On the Map
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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93