Bain executive pays $15.7M to Hines for unit in 53 West 53rd Street condo

Ryan Cotton paid $15.7 million to Hines and Pontiac Land through the entity W2005/Hines West Fifty-Third Realty, LLC for unit 55A in the 180-unit condo (SC) building at 53 West 53rd Street in Midtown, Manhattan.
The deal closed on July 7, 2021 and was recorded on October 26, 2021.
This is unit 55A. Cotton is a managing director at Bain Capital Private Equity.

Within a 400-foot radius of 53 West 53rd Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was for major renovation including a certificate of occupancy change. It was an initial temporary certificate of occupancy issued on December 16, 2019 for the $10.8 million renovation of 19,846-square-foot B building with no residential units at 1345 Avenue Of The Americas.
One of those two items was a loan which Paramount Group borrowed $710 million from Morgan Stanley secured by the office building (O4) on 1301 Avenue Of The Americas on August 20, 2021.

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