Steven Berson Acquires Condo In TriBeCa, Manhattan For $13.5 Million
SOLD
New York
See Similar Deals96,992 SF
Sold 12/03/2021
SOLD
Steven Berson Acquires Condo In TriBeCa, Manhattan For $13.5 Million
11 Beach Street, New York City, New York 10013, United States
See Similar Deals96,992 SF
Sold 12/03/2021
Summary
NEW YORK
Price Per Square Foot:$139
Total Square Footage:96,992 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$720,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,962.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,996.89
Annual Debt Service$767,962.65
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