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
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