Compass' Phillip Salem & Corcoran Group's Steve Gold Represent Sale Of Residential Condo At 520 W. 28th St. In Chelsea For $13.5M
SOLD
$13,500,000
New York
See Similar Deals4,023 SF
Sold 07/01/2020
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
See Similar Deals4,023 SF
Sold 07/01/2020
Summary
NEW YORK
Price Per Square Foot:$3,355
Total Square Footage:4,023 SF
Transaction Type:Sale
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.
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$720,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,962.65
Cash-on-Cash Return-1.27%
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