Foreclosure Sale Of Iconic New York Friars Club At 57 East 55th Street For $17.2M
57 East 55th Street
$17,200,000
$1,182/SF
Building Size
14,541 SF
Asset Type
Mixed-use
Closing
Feb 21, 2024
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 57 East 55th Street in Manhattan. The sale was completed for a total of $17,200,000, equating to $1,182 per square foot for the 14,541 square feet of space.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $17,200,000
- Square Footage: 14,541
- Price per Square Foot: $1,182
- Address: 57 East 55th Street
- Market: Manhattan
- Brokers: Greg Corbin & Mickey Salzman - Northgate Real Estate Group
This transaction was notable as it involved the foreclosure sale of the former iconic New York Friars Club, emphasizing the significance of this location in New York's cultural and social landscape.
On the Map
$17,200,000
$1,182/SF
Mixed-use
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New York 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
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93