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
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