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50 West 27th Street, Manhat...

Updated Dec 19, 2023

Asim Rashid Acquires Mixed-Use Property In Chelsea For $4M
SOLDMixed-use

Asim Rashid Acquires Mixed-Use Property In Chelsea For $4M

50 West 27th Street, Manhattan, New York, NY, USA

$4,000,000

$772/SF

Building Size

5,181 SF

Asset Type

Mixed-use

Closing

Oct 5, 2021

About this deal

AI

Located in the vibrant Chelsea neighborhood of New York City, a mixed-use property at 50 West 27th St. recently changed hands in a sale transaction. The deal was finalized on 10/05/2021.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $4,000,000
  • Address: 50 West 27th St.
  • Market: Chelsea

Asim Rashid acquired the property from Arnold Morak, with the assistance of Tom Brady from aprateNYC at Douglas Elliman. The property consists of approximately 5,181 square feet, with a price per square foot of $772.

The transaction highlights the significance of collaboration between buyers, sellers, and brokers in the New York City real estate market. Asim Rashid, the buyer, recognized the value and potential of the mixed-use property, while Arnold Morak, the seller, seized the opportunity to monetize their investment. Tom Brady, representing aprateNYC at Douglas Elliman, facilitated a smooth and successful transaction. This deal showcases the expertise and professionalism of these key individuals and their commitment to providing exceptional real estate services in the Chelsea area.

On the Map

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$4,000,000

$772/SF

Mixed-use

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Players

Tom Brady

Douglas Elliman

Broker

$81.6M

vol

11 deals

Broker
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New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $772 per square foot on a published $4M for 5,181 square feet (2021).

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Browse New York mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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