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520 West 28th Street, New Y...

Compass' Phillip Salem & Corcoran Group's Steve Gold Represent Sale Of Residential Condo At 520 W. 28th St. In Chelsea For $13.5M
SOLD

Compass' Phillip Salem & Corcoran Group's Steve Gold Represent Sale Of Residential Condo At 520 W. 28th St. In Chelsea For $13.5M

520 West 28th Street, New York, NY 10001, USA

$13,500,000

$3,355/SF

Building Size

4,023 SF

Asset Type

Closing

Jul 1, 2020

AI

A residential condo located at 520 W. 28th St. in Chelsea was sold in July 2021 for a total amount of $13,500,000. The property spans across a total area of 4,023 square feet, resulting in a price per square foot of $3,355. The sale also includes two parking spots, adding approximately $1.4 million in value.

Summary of transaction details

  • Property Type: Residential Condo
  • Sale Price: $13,500,000
  • Size: 4,023 square feet
  • Price per Square Foot: $3,355
  • Address: 520 W. 28th St., Chelsea

The transaction was facilitated by two brokers. Phillip Salem from Compass and Steve Gold from The Corcoran Group represented the involved parties in the deal.

It is worth noting that Unit at 520 W. 28th St. was previously leased by Ariana Grande and Pete Davidson as their New York residence. This adds a unique aspect to the property's history.

Players

Steve Gold

The Corcoran Group

Broker

$54.7M

vol

5 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

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93