Robert Shafir And Donna Shafir Purchase Condo In Chelsea For $25 Million From Steve Witkoff And Len Blavatnik
500 West 18th Street
$25,000,000
$5,199/SF
Building Size
4,808 SF
Asset Type
Condo
Closing
Sep 16, 2024
AI
A condo located at 500 West 18th Street in the Chelsea market of Manhattan has been sold for $25,000,000. The property encompasses 4,808 square feet, translating to a price per square foot of $5,200.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $25,000,000
- Address: 500 West 18th Street
- Market: Chelsea, Manhattan
- Buyer: Robert Shafir & Donna Shafir
- Seller: Steve Witkoff & Len Blavatnik
- Broker: Richard Ziegelasch - The Corcoran Group
- Square Footage: 4,808
- Price Per Square Foot: $5,200
The transaction involved Robert Shafir and his wife, Donna, purchasing the penthouse at One High Line, facilitated by broker Richard Ziegelasch from The Corcoran Group, representing the buyer. The sellers were Steve Witkoff and Len Blavatnik in this deal.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93