Steven Berson Acquires Condo In TriBeCa, Manhattan For $13.5 Million
11 Beach Street, New York City, New York 10013, United States
$13,500,000
$139/SF
Building Size
96,992 SF
Asset Type
—
Closing
Dec 2, 2021
About this deal
AI
A condo located at 11 Beach Street in TriBeCa, Manhattan was sold on 12/03/2021. The property, zoned as C6-2A, TMU, was purchased for a price of $13,500,000. With a floor area ratio (FAR) of 8.65 and tax classification of 2, this condo offers a lucrative investment opportunity. The previous sale of the property took place on 09/11/2018, with a sale price of $12,200,000.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $13,500,000
- Address: 11 Beach Street, TriBeCa, Manhattan
- Zoning: C6-2A, TMU
- Floor Area Ratio (FAR): 8.65
- Tax Classification: 2
The buyer of this condo is Steven Berson, while the seller is Brett Wexler. Both parties successfully completed the transaction, resulting in the purchase of this coveted property.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $139 per square foot on a published $13.5M for 96,992 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93