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Conor Myhrvold Acquires Mixed-Use Property At 527 West 29th Street For $6.3M

Property Image
SOLD
$6,300,000
Noah Kossoff
Frederick (Fritz) Richter
+ 1

New York

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Mixed-use10,717 SF
Sold 01/27/2025
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Property Image
SOLD

Conor Myhrvold Acquires Mixed-Use Property At 527 West 29th Street For $6.3M

527 West 29th Street

See Similar Deals
Mixed-use10,717 SF
Sold 01/27/2025
Noah Kossoff
Frederick (Fritz) Richter
+ 1
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$587
Total Square Footage:10,717 SF
Transaction Type:Sale

The mixed-use property located at 527 West 29th Street in the Chelsea market has been sold for $6,300,000. The asset encompasses a total square footage of 10,717, breaking down into a residential buildable square footage of approximately 15,425 and commercial buildable square footage of about 12,340. The sale reflects a price per square foot of $587.

Summary of transaction details:

The transaction was facilitated by brokers Frederick Richter, Noah Kossoff, Mitchell Levine, and Kyle Sabath, who represent Avison Young in this deal. Their involvement highlights key professional contributions towards the successful completion of the sale.

Players

Noah Kossoff
35 deals$385.1M volume(917) 880-1475
BROKER

Mitchell Levine
Avison Young
27 deals$294.6M volume
BROKER

Frederick (Fritz) Richter
Avison Young
34 deals$506.5M volume
BROKER

Kyle Sabath
Avison Young
17 deals$200.5M volume(212) 729-6279
BROKER

Details

SOLD
IMAGE: Frederick Richter , Noah Kossoff, Mitchell Levine & Kyle Sabath DATE: 01/27/2025 ADDRESS: 527 West 29th Street MARKET: Chelsea ASSET TYPE: Mixed-use BUYER: Conor Myhrvold BROKERS: Frederick Richter (@FritzRic), Noah Kossoff (@Noah_Kossoff), Mitchell Levine (@Mil1973) & Kyle Sabath - Avison Young (@Avison_Young_Global) SALE PRICE: $6,300,000 SF: 10,717 ~ PPSF: $587 RESIDENTIAL BSF: 15,425± COMMERCIAL BSF 12,340±

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$336,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57