Steven Gurton, Stefani Berkin & Robert Barr Of R New York Represent Buyer In Chelsea Mixed-Use Sale For $12.35M
SOLD
$12,347,500
+ 3
New York
See Similar DealsMixed-use5,834 SF
Sold 11/21/2024
SOLD
Steven Gurton, Stefani Berkin & Robert Barr Of R New York Represent Buyer In Chelsea Mixed-Use Sale For $12.35M
245 West 18th Street
See Similar DealsMixed-use5,834 SF
Sold 11/21/2024
+ 3
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$2,116
Total Square Footage:5,834 SF
Transaction Type:Sale
The mixed-use property located at 245 West 18th Street in the Chelsea market has been sold for a total transaction amount of $12,347,500. The asset offers a total square footage of 5,834, bringing the price per square foot to approximately $2,116.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,347,500
- Address: 245 West 18th Street
- Market: Chelsea
- Square Footage: 5,834
- Price per Square Foot: $2,116
The buyer's representatives Steven Gurton, Stefani Berkin, and Robert Barr belong to the agency R New York, while the seller's representatives Raphael De Niro, James C. Flowers, and Katherine Stroud Shechtman are affiliated with Douglas Elliman.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$658,533.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,868.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$58,533.45
Annual Debt Service$702,401.39
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