Wesley Edens Acquires Residential Condo In Chelsea For $20.2M
SOLD
$20,207,500
New York
See Similar Deals6,853 SF
Sold 09/18/2020
SOLD
Wesley Edens Acquires Residential Condo In Chelsea For $20.2M
520 W 28th St, New York, NY 10001, USA
See Similar Deals6,853 SF
Sold 09/18/2020
Summary
NEW YORK
Price Per Square Foot:$2,948
Total Square Footage:6,853 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,077,733.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,792.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$95,793.86
Annual Debt Service$1,149,526.31
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