Jeremy Shell's TF Cornerstone Acquires Condo In Hell's Kitchen For $115M
660 12th Avenue
$115,000,000
$545/SF
Building Size
210,653 SF
Asset Type
Condo
Closing
Sep 29, 2023
About this deal
AI
A commercial condominium unit located at 660 12th Avenue in Hell’s Kitchen, Manhattan has been sold for a staggering price of $115,000,000. This condo, spanning an area of 210,653 square feet, was acquired by Jeremy Shell - TF Cornerstone. The transaction was facilitated by Ryan Cawley - Wells Fargo, who acted as the seller.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $115,000,000
- Square Footage: 210,653 sqft
- Price Per Square Foot: $546
- Address: 660 12th Avenue, Hell’s Kitchen, Manhattan
- Market: Hell’s Kitchen, Manhattan
TF Cornerstone, represented by 660 Twelfth Unit One L.L.C., successfully secured a $115 million refinancing loan from Wells Fargo for this commercial condominium unit. This loan was utilized to finalize the acquisition. It is a significant deal in the Hell’s Kitchen real estate market and highlights the involvement of key individuals such as Jeremy Shell and Ryan Cawley.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $545 per square foot on a published $115M for 210,653 square feet (2023).
Browse New York condo sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93