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503 West 24th Street, Chels...

SHVO & The Victor Group Acquire Residential Condo On West 24th St. For $11.8M
SOLD

SHVO & The Victor Group Acquire Residential Condo On West 24th St. For $11.8M

503 West 24th Street, Chelsea, New York, NY 10011, USA

$11,800,000

$3,092/SF

Building Size

3,816 SF

Asset Type

Closing

Jun 11, 2020

AI

A residential condo located at 503 West 24th St. in Chelsea was recently sold for $11,800,000. The property spans 3,816 square feet, resulting in a price per square foot of $3,092. The sale took place on June 11, 2021, and was facilitated by brokers Stefani Berkin and Rob Barr of R New York Brokers. The development of the condo was carried out by SHVO and The Victor Group, with architecture by Peter Marino Architect.

Summary of transaction details

  • Property Type: Residential Condo
  • Transaction Amount: $11,800,000
  • Address: 503 West 24th St., Chelsea
  • Square Footage: 3,816
  • Price per Square Foot: $3,092
  • Brokers: Stefani Berkin & Rob Barr of R New York Brokers
  • Developer: SHVO & The Victor Group
  • Architect: Peter Marino Architect

This sale marks an important transaction in the residential condo market, demonstrating the high-value properties in the Chelsea area. The involvement of reputable brokers Stefani Berkin and Rob Barr from R New York Brokers adds further credibility to the deal. The collaboration between SHVO, The Victor Group, and Peter Marino Architect showcases the expertise and vision behind the development of this upscale condo.

Players

Stefani Berkin

R New York

Broker

$63.5M

vol

9 deals

Broker

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

1.34%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93