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Edan E Pinkas Acquires Penthouse Condo From Witkoff Group And Len Blavatnik For $24.76M
SOLD
$24,755,775
New York
See Similar DealsCondo5,422 SF
Sold 11/26/2024
SOLD
Edan E Pinkas Acquires Penthouse Condo From Witkoff Group And Len Blavatnik For $24.76M
500 West 18th Street
See Similar DealsCondo5,422 SF
Sold 11/26/2024
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$4,565
Total Square Footage:5,422 SF
Transaction Type:Sale
Edan E. Pinkas acquired a 5,422-square-foot penthouse condo at 500 West 18th Street in Chelsea for $24,755,775. This transaction, valued at $4,566 per square foot, involved a prominent asset type in the real estate market.
Summary of transation details:
- Property Type: Condo
- Transaction Amount: $24,755,775
- Buyer: Edan E Pinkas
- Seller: Steven Witkoff, Alex Witkoff - Witkoff Group & Len Blavatnik - Access Industries
- Square Footage: 5,422
- Price Per Square Foot: $4,566
- Date of Transaction: November 26, 2024
In this transaction, Edan E. Pinkas was the buyer, while the sellers included Steven Witkoff and Alex Witkoff from Witkoff Group along with Len Blavatnik from Access Industries, indicating a collaboration among noted real estate and investment entities.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,320,307.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$87,952.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$117,355.00
Annual Debt Service$1,408,260.04
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