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30 Park Place, New York, NY...

Silverstein Properties Acquires Residential Condo In TriBeCa For $9.3M
SOLDHotel

Silverstein Properties Acquires Residential Condo In TriBeCa For $9.3M

30 Park Place, New York, NY 10007 & 30 Park Place, New York, NY 10007

$9,300,000

$965/SF

Building Size

9,637 SF

Asset Type

Hotel

Closing

Aug 11, 2020

AI

Oren Alexander, Larry Silverstein, and Tal Alexander have closed on the sale of a residential condo at 30 Park Place in TriBeCa. The property spans 3,700 square feet and was sold for $9,300,000, resulting in a price per square foot of $2,513. The transaction took place on August 12, 2020. The buyer of the condo remains undisclosed.

Summary of transaction details:

  • Property Type: Residential Condo
  • Transaction Amount: $9,300,000
  • Address: 30 Park Place
  • Market: TriBeCa
  • Developed by: Silverstein Properties

Tal Alexander and Oren Alexander represented the seller and were assisted by their team at Douglas Elliman. Sarah Williams and Ginette Behar from Societe Real Estate also provided brokerage services in the deal. The listing was sold for approximately 2% below the asking price, demonstrating the skill of the Alexander Team in navigating the challenges posed by the pandemic.

Players

Oren Alexander

Official

Broker

$2B

vol

106 deals

Broker
Douglas Elliman
Douglas EllimanBrokerage

New York Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.71%

Cash-on-Cash

-0.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93