Extell sells One57 condo unit for $19.2M

15766b LLC paid $19.2 million to Extell Development’s Extell West 57th Street LLC for a condo (SC) at One57 at 157 West 57th Street in Midtown West, Manhattan.
The deal closed on June 2, 2021 and was recorded on June 10, 2021.
The property has 4,193 square feet of built space. The sale price per built square foot is $4,577 per the PincusCo analysis.
(110463418)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 352 residential units on December 18, 2013.
Within a 400-foot radius of 157 West 57th Street, PincusCo identified 12 commercial real estate items of interests occurred over the past 24 months.
Of those 12 items, one was in new building development. It was a new building permit application filed on November 13, 2019 for a 259,201-square-foot B building with N/A residential units at 125 West 57th Street.
Of those 12 items, seven were sales above $5 million totaling $119.7 million. The most recent of the seven was 157 West 57th Street Properties, LLC which bought one condo unit in the 3,228-square-foot, 135-unit mixed-use building (RM) on 157 West 57th Street for $12.3 million from Extell Development on April 26, 2021.
Of those 12 items, four were loans above $5 million totaling $236.4 million. The most recent of the four was L&L Holding which borrowed $92.5 million from Aareal Capital Corporation secured by one condo unit in the 237,695-square-foot, 241-unit mixed-use building (RM) on 146 West 57th Street on March 30, 2021.

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