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224 West 20th Street, New Y...

Updated Dec 18, 2023

Peter Bergman, Vera Buettner & Kostia Bergman Acquire Commercial Property In Chelsea, Manhattan For $4.4M
SOLDCommercial

Peter Bergman, Vera Buettner & Kostia Bergman Acquire Commercial Property In Chelsea, Manhattan For $4.4M

224 West 20th Street, New York City, New York 10011, United States

$4,400,000

$2,552/SF

Building Size

1,724 SF

Asset Type

Commercial

Closing

Apr 7, 2022

About this deal

AI

The commercial property located at 224 West 20th Street in Chelsea, Manhattan was recently sold in a closed transaction. The property has a total square footage of 1,724 and was sold at a price of $4,400,000, resulting in a price per square foot of $2,552. The lot size of the property is 2,300, with dimensions measuring 25 feet by 87.25 feet. Previous alterations were made to the property in August 2008, as indicated by the permits.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $4,400,000
  • Square Footage: 1,724
  • Price per Square Foot: $2,552
  • Lot Size: 2,300
  • Permits: Alteration 2 (08/01/2008)
  • Lot Dimension: 25 ft x 87.25 ft

The buyers involved in this transaction are Peter Bergman, Vera Buettner, and Kostia Bergman. They represented themselves in the deal as the buyer's representatives.

Players

New York Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

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Deal FAQ

About $2.6K per square foot on a published $4.4M for 1,724 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.61%

Cash-on-Cash

-1.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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