New York & Tri-State + Midtown New York + Apartments | April 12, 2023

RIPCO Lists Sale of Midtown West Investment Property

RIPCO Real Estate has been selected to handle the the sale of investment sales property 243 West 54th Street in Midtown, Manhattan, by seller Chai Owner LLC. The asking price is $20 million. RIPCO’s Stephen R. Preuss Sr., and Kevin Louie have the listing.

Spanning 15,940 square feet, 243 West 54th Street is a four story mixed-use building with several free market and combined units. The property is located within walking distance to Columbus Circle, Central Park, Times Square and the Theater District.

“243 West 54th Street represents a trend towards assets with multifamily components in a prime location,” said Preuss. “The property offers buyers and investors a rare opportunity of an assumable loan with favorable terms including a 3.725% interest rate, $10,000,000 loan and January 2030 loan maturity date with no amortization.”

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Stephen R. Preuss

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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