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500 West 25th Street, New Y...

Craig E. Vosburg & Tara Maguire Acquire Condo At 500 West 25th Street In Chelsea For $12.2M
SOLD

Craig E. Vosburg & Tara Maguire Acquire Condo At 500 West 25th Street In Chelsea For $12.2M

500 West 25th Street, New York City, New York 10001, United States

$12,200,000

$2,385/SF

Building Size

5,115 SF

Asset Type

Closing

Oct 4, 2021

AI

The property involved in this closed transaction is a condo located at 500 West 25th Street in Chelsea. The asset type is a condo, and it falls under the zoning classification of C6-3, WCh. The property has a total square footage of 5,115, with a price per square foot of $2,385.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $12,200,000
  • Address: 500 West 25th Street, Chelsea
  • Buyer: Craig E. Vosburg & Tara Maguire
  • Seller: Michael Kirchmann & Alan Rudikoff - GDSNY
  • Brokers: Ellis Bachman, Fredrik Eklund, Keith Copley & John Gomes - Douglas Elliman
  • Square Footage: 5,115
  • Price Per Square Foot: $2,385

The deal was facilitated by brokers Ellis Bachman, Fredrik Eklund, Keith Copley, and John Gomes from Douglas Elliman. The buyer, Craig E. Vosburg, and Tara Maguire purchased the property from Michael Kirchmann and Alan Rudikoff of GDSNY. The property has a floor area ratio (FAR) of 18.97 and falls under tax class 2B. The lot size measures 1,463, with dimensions of 39.5 feet by 75 feet.

Players

Fredrik Eklund

Douglas Elliman

Broker

$771.5M

vol

27 deals

Broker

Michael Kirchmann

GDSNY

Seller

$95.2M

vol

6 deals

Seller
G
GDSNYSeller

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.30%

Cash-on-Cash

-0.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93