ANBAU Acquires Development Site In Chelsea For $18.5M
428 W 19th St, New York, NY 10011, USA
$18,500,000
$445/SF
Building Size
41,492 SF
Asset Type
Development Site
Closing
Jul 20, 2020
AI
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
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93