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514 West 24th Street

JDS Development Sells Condo In West Chelsea For $12.8M
SOLDCondo

JDS Development Sells Condo In West Chelsea For $12.8M

514 West 24th Street

$12,759,500

$2,948/SF

Building Size

4,328 SF

Asset Type

Condo

Closing

Nov 5, 2022

AI

A condo located at 514 W. 24th St., West Chelsea was recently sold in a closed transaction. The property, owned by JDS Development and represented by Michael Stern, was sold for a total of $12,759,500. The condo spans 4,328 square feet and was sold at a price per square foot of $2,948.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $12,759,500
  • Address: 514 W. 24th St., West Chelsea
  • Square Footage: 4,328
  • Price per Square Foot: $2,948

The sale of this condo was facilitated by Catherine Juracich from Douglas Elliman, who represented the seller, Michael Stern of JDS Development. The transaction took place on 05/11/2022.

Players

Catherine Juracich

The Corcoran Group

Broker

$131.7M

vol

10 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

1.24%

Cash-on-Cash

-0.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93