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
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