Matthew Lesser & Ravi Kantha's LK Team Sell Multifamily Property In Chelsea For $9M
318 West 22nd Street, New York City, New York 10011, United States
$9,000,000
$1,231/SF
Building Size
7,308 SF
Asset Type
Commercial
Closing
May 2, 2022
AI
The multifamily property located at 318 W. 22nd St. in Chelsea has been sold for a total price of $9,000,000. The transaction took place on 05/03/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,000,000
- Units: 22
- Price per Unit: $409,090
- Total Square Footage: 7,315
- Price per Square Foot: $1,230
- Market: Chelsea
The buyer's representative in this deal was Malcolm Adams, while Matthew Lesser and Ravi Kantha from the LK Team, Leslie J. Garfield & Co., represented the seller.
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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93