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
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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