Updated Oct 29, 2024
Apollo Global Management Provides $238.8M Loan For Midtown West Multifamily Property
111 West 57th Street, New York City, New York 10019, United States
$238,790,283
$897,707/SF
Building Size
266 SF
Asset Type
MultiFamily
Closing
Oct 8, 2022
About this deal
AI
The multifamily property located at 111 West 57th Street in Midtown West has been involved in a recent transaction. The property spans approximately 266,639 square feet and consists of 49 units. The transaction details are as follows:
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $238,790,283
- Address: 111 West 57th Street
- Market: Midtown West
- Landlord: JDS Development Group - Kevin Maloney & Michael Z. Stern
- Lender: Apollo Global Management - Jeffrey Horowitz
In this deal, Apollo Global Management, represented by Jeffrey Horowitz, acted as the lender. The landlord of the property is JDS Development Group, represented by Kevin Maloney and Michael Z. Stern.
On the Map
$238,790,283
$897,707/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93