ANBAU Acquires Development Site In Chelsea For $18.5M
SOLD
$18,500,000
New York
See Similar DealsDevelopment Site41,492 SF
Sold 07/21/2020
SOLD
ANBAU Acquires Development Site In Chelsea For $18.5M
428 W 19th St, New York, NY 10011, USA
See Similar DealsDevelopment Site41,492 SF
Sold 07/21/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$445
Total Square Footage:41,492 SF
Transaction Type:Sale
The property involved in this closed transaction is a development site located at 428-432 West 19th Street in Chelsea. The sale price for this asset was $18,500,000, and it spans a total of 41,492 square feet. The price per buildable square foot (PPBSF) is $445.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $18,500,000
- Square Footage: 41,492
The seller of the property was Ernest Schoenherr, while the buyers were Stephen Glascock and Parke Leatherman, represented by ANBAU. The deal was facilitated by brokers Andrew Natter and Harold Fuchs from the Collaborative Group.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$986,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,726.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$87,699.44
Annual Debt Service$1,052,393.26
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