Greg Cowan Acquires Resi Co-op In Chelsea From Jerrie Butler For $1.55M
250 W 21st St, Manhattan, New York, NY, USA
$1,550,000
$1,409/SF
Building Size
1,100 SF
Asset Type
Mixed-use
Closing
Feb 21, 2021
About this deal
AI
The residential co-op located at 250 W. 21st St., Apt. 1/2 in Chelsea has been sold. The property features 1,100 square feet of space. The transaction took place on 02/22/2021.
Summary of transaction details:
- Property Type: Residential co-op
- Transaction Amount: $1,550,000
- Market: Chelsea
The buyer, Greg Cowan, acquired the property from the seller, Jerrie Butler, for a sale price of $1,550,000. The property was listed by brokers Edward Poplawski and Daniel Machover. The asking price for the co-op was $1,625,000, and it was sold at a price per square foot of $1,409.
Players
New York 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
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93