Silvio Scaglia Acquires 70 Vestry Street Penthouse In Tribeca From Related Group For $55M
SOLD
$55,000,000
New York
See Similar Deals12,408 SF
Sold
SOLD
Silvio Scaglia Acquires 70 Vestry Street Penthouse In Tribeca From Related Group For $55M
70 Vestry Street, Manhattan, New York, NY, USA
See Similar Deals12,408 SF
Sold
Summary
NEW YORK
Price Per Square Foot:$4432
Total Square Footage:12408 SF
Transaction Type:Sale
The penthouse located at 70 Vestry Street in Tribeca has been sold in a recent transaction. The seller, Related Group, closed the deal with the buyer, Silvio Scaglia. The property was represented by brokers Binyamin Weinstein, Louis Adler, and Robert Rahmanian.
Summary of transaction details:
- Property Type: Penthouse
- Transaction Amount: $55,000,000
- Square Footage: 7,808 + 3,687 of outdoor space
- Price Per Square Foot: $7,044
- Address: 70 Vestry Street - Penthouse S, Tribeca
The deal involved several known figures in the industry. The transaction was completed on December 10, 2018. The penthouse was sold by the Related Group to Silvio Scaglia. The brokers Binyamin Weinstein, Louis Adler, and Robert Rahmanian represented the property in the sale.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,933,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$195,403.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$260,728.06
Annual Debt Service$3,128,736.72
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