Ryan Pedram Acquires Commercial Property In Chelsea, Manhattan For $4M
SOLD
$4,000,000
New York
See Similar DealsCommercial3,819 SF
Sold 12/29/2021
SOLD
Ryan Pedram Acquires Commercial Property In Chelsea, Manhattan For $4M
247 West 24th Street, New York City, New York 10011, United States
See Similar DealsCommercial3,819 SF
Sold 12/29/2021
Summary
NEW YORK
Asset Type:Commercial
Price Per Square Foot:$1,047
Total Square Footage:3,819 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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