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James C. Kennedy Of Cox Communications Acquires Condo At 500 West 18th Street For $47M
SOLD
$47,000,000
New York
See Similar DealsCondo6,933 SF
Sold 11/25/2024
SOLD
James C. Kennedy Of Cox Communications Acquires Condo At 500 West 18th Street For $47M
500 West 18th Street
See Similar DealsCondo6,933 SF
Sold 11/25/2024
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$6,779
Total Square Footage:6,933 SF
Transaction Type:Sale
The condo located at 500 West 18th Street in Chelsea features a spacious 6,933 square feet of living area. The asset was sold for $47,000,000, translating to a price per square foot of $6,779.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $47,000,000
- Buyer: James C. Kennedy - Cox Communications
- Seller: Steven Witkoff & Alex Witkoff - Witkoff Group & Len Blavatnik - Access Industries
- Square Footage: 6,933
- Price Per Square Foot: $6,779
The transaction was completed on November 25, 2024. James C. Kennedy, serving as the Chairperson of Cox Communications, acquired the property known as PH36 at One High Line from the Witkoff Group and Access Industries.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,506,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$166,981.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$222,803.98
Annual Debt Service$2,673,647.74
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