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500 West 18th Street

Robert Shafir And Donna Shafir Purchase Condo In Chelsea For $25 Million From Steve Witkoff And Len Blavatnik
SOLDCondo

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

Deborah Kern

The Corcoran Group

Broker

$445.9M

vol

8 deals

Broker

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