Related Companies Sells Condo Unit In West Chelsea To Undisclosed Buyer For $13.2M
520 W 28th St #32New York, NY 10001, USA
$13,200,000
Building Size
—
Asset Type
Condo
Closing
May 6, 2023
About this deal
AI
An undisclosed buyer purchased a unit at 520 West 28th Street in West Chelsea, a luxury condo building developed by Related Companies. The sale price of the condo was $13.2 million, which represents a 20 percent discount from its last asking price of $16.5 million.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $13,200,000
- Address: 520 West 28th Street Unit, West Chelsea
- Seller: Related Companies - Jeff Blau
Jeff Blau, the representative of Related Companies, facilitated the sale of the unit to the undisclosed buyer. The transaction reflects a significant discount from the initial listing price and underscores the buyer's opportunity to acquire a luxury condo in the West Chelsea neighborhood.
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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93