One57 resale nets $31.9M, down from $47.4M in 2015

The entity Andiamo Inc. paid $31.9 million to the entity One57 86, LLC for condo (SC) unit 86 at at One57 at 157 West 57th Street in Midtown West, Manhattan. The condo was developed by Extell Development.
The deal closed on July 20, 2021 and was recorded on July 28, 2021.
The property has 6,236 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $5,115 per the PincusCo analysis.
The owner bought the property in February 2015 for $47.4 million.
The signatory for One57 86 LLC was Walter Edelstein. The signatory for Andiamo Inc. was Ed David.

This is for unit 86.

Within a 400-foot radius of 157 West 57th Street, PincusCo identified 15 commercial real estate items of interests occurred over the past 24 months.
Of those 15 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 residential units at 125 West 57th Street.
Of those 15 items, nine were sales above $5 million totaling $268.9 million. The most recent of the nine was Alchemy Properties and ABR Investment Partners which bought the 191,261-square-foot, two-unit hotel (H3) on 123 West 57th Street for $130.0 million from Calvary Baptist Church on June 25, 2021.
Of those 15 items, five were loans above $5 million totaling $336.4 million. The most recent of the five was Alchemy Properties which borrowed $100.0 million from Security Benefit Life Insurance Company secured by the 191,261-square-foot, two-unit hotel (H3) on 123 West 57th Street on June 30, 2021.

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