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22 West 23rd Street

Bluejay Management Acquires Mixed-Use Property In Flatiron, Manhattan For $9.5M
SOLDMixed-use

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

Abie Kassin

Meridian Capital Group

Broker

$1.6B

vol

52 deals

Broker
Bluejay Management
Bluejay ManagementBuyer

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