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520 W 28th St, New York, NY...

Wesley Edens Acquires Residential Condo In Chelsea For $20.2M
SOLD

Wesley Edens Acquires Residential Condo In Chelsea For $20.2M

520 W 28th St, New York, NY 10001, USA

$20,207,500

$2,948/SF

Building Size

6,853 SF

Asset Type

Closing

Sep 17, 2020

AI

The residential condo located at 520 W. 28 St. in Chelsea has been sold in a closed transaction. The property spans 6,853 square feet and was sold for a price of $20,207,500, resulting in a price per square foot of $2,948.

Summary of transaction details:

  • Property Type: Residential Condo
  • Transaction Amount: $20,207,500
  • Address: 520 W. 28 St.
  • Market: Chelsea

Wesley Edens has purchased the residential condo. The deal was facilitated by Peter Zaitzeff of Corcoran, who represented Wesley Edens as the buyer's broker.

Players

Peter Zaitzeff

Serhant

Broker

$100.3M

vol

3 deals

Broker
Wesley R. Edens

Wesley R. Edens

Fortress Investment Group

Buyer

$276.3M

vol

6 deals

Buyer

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

0.79%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93