Updated Dec 20, 2023
Ryan Pedram Acquires Commercial Property In Chelsea, Manhattan For $4M
247 West 24th Street, New York City, New York 10011, United States
$4,000,000
$1,047/SF
Building Size
3,819 SF
Asset Type
Commercial
Closing
Dec 28, 2021
About this deal
AI
The commercial property located at 247 West 24th Street & West 24th Street in Chelsea, Manhattan, has been sold in a transaction. The property is zoned as R8B and falls under the tax class 4 designation. The lot size is 1,760 square feet with dimensions of 20 feet by 88 feet. It has a floor area ratio (FAR) of 2.17.
Summary of Transaction Details
- Property Type: Commercial
- Transaction Amount: $4,000,000
- Buyer: Ryan Pedram
- Seller: John Contrubis
- Building Square Footage (BSF): 11,564
- Price per BSF: $345
- Property Square Footage (SF): 3,819
- Price per SF: $1,047
Ryan Pedram has acquired the property from John Contrubis. The transaction was completed on 12/29/2021. An alteration permit was issued on 07/30/2003 for the property.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93