Matthew Adell Of Adellco Sells 20 Condos At The Armorie In Flatiron For $71M
114 East 25th Street
$71,000,000
Units
20
Asset Type
Condo
Closing
Apr 24, 2025
About this deal
AI
The transaction involved the sale of 20 condos and commercial space located at 114 East 25th Street in the Flatiron market. The sale was completed at a total price of $71,000,000, leading to a per unit price of $3,550,000.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $71,000,000
- Units: 20
- Address: 114 East 25th Street
- Market: Flatiron
- PPU: $3,550,000
- Seller: Matthew Adell - Adellco
- Broker: Richard Hottinger - The Hottinger Team
Adellco sold the entire property to a private family office shortly after initiating soft sales for the condos and commercial space, further demonstrating the swift execution of the transaction.
On the Map
$71,000,000
Condo
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New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $3.6M per unit across 20 units on a published $71M (2025).
Browse New York condo sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93