Pacific Urban Investors Acquires 213-Unit Condo In Chelsea, Manhattan For $183M From Related Companies
125 W 14th St New York, NY 10011, USA
$183,000,000
$859,154/SF
Building Size
213 SF
Asset Type
Condo
Closing
Aug 8, 2023
About this deal
AI
A 213-unit rental condominium located at 125 West 14th Street in Manhattan's Chelsea neighborhood has been sold for $183 million. The property, a condo, was acquired by Pacific Urban Investors from Related Companies Orda Management via Armory Place LLC.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $183,000,000
- Market: Chelsea, Manhattan
- Address: 125 West 14th Street
- Buyer: Pacific Urban Investors - Alfred Pace
- Seller: Related Companies - Stephen Ross, Jeff Blau & Bruce Beal Orda Management
- Units: 213
- Price per Unit: $859,155
Pacific Urban Investors, represented by Alfred Pace, successfully closed the deal for the 213-unit rental condominium at 125 West 14th Street. The sale was completed with the involvement of Stephen Ross, Jeff Blau, and Bruce Beal from the Related Companies, as well as Orda Management. The acquisition of this property marks a significant investment for Pacific Urban Investors in the desirable Chelsea neighborhood of Manhattan.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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About $859.2K per square foot on a published $183M for 213 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93