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70 Vestry Street, Manhattan...

Silvio Scaglia Acquires 70 Vestry Street Penthouse In Tribeca From Related Group For $55M
SOLD

Silvio Scaglia Acquires 70 Vestry Street Penthouse In Tribeca From Related Group For $55M

70 Vestry Street, Manhattan, New York, NY, USA & 70 Vestry Street, Manhattan, New York, NY, USA

$55,000,000

$4,432/SF

Building Size

12,408 SF

Asset Type

Closing

Dec 9, 2018

AI

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

Binyamin Weinstein

Broker

$55M

vol

1 deal

Broker
Related Group
Related GroupSeller
Related Group
Related GroupLender

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.29%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93