Bluejay Management Acquires Mixed-Use Property In Flatiron, Manhattan For $9.5M
22 West 23rd Street
$9,500,000
$723/SF
Building Size
13,125 SF
Asset Type
Mixed-use
Closing
Sep 22, 2023
AI
A mixed-use property located at 22 West 23rd Street in Flatiron, Manhattan has been sold. The property consists of office and retail space, spanning a total of 13,125 square feet. The transaction took place on September 22, 2023. The property was sold by 22 Chelsea Properties, LLC to Bluejay Management for a total sale price of $9,500,000. This translates to a price per square foot of $724.
Summary of transation details
- Property Type: Mixed-use (Office & Retail)
- Transaction Amount: $9,500,000
- Square Footage: 13,125
- Address: 22 West 23rd Street, Flatiron, Manhattan
- Market: Flatiron, Manhattan
The deal was facilitated by the brokers from Meridian Capital Group, including Jeff Weinberg, Jonathan Birnbaum, Brian Gladstone, Abie Kassin, and David Schechtman. They represented both the buyer, Bluejay Management, and the seller, 22 Chelsea Properties, LLC, in the transaction.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93