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Pacific Urban Investors Acquires Tower At 130 West 15th Street In Chelsea For $185M
SOLD
$185,000,000
New York
See Similar DealsMultiFamily
Sold 08/08/2023
SOLD
Pacific Urban Investors Acquires Tower At 130 West 15th Street In Chelsea For $185M
130 West 15th Street
See Similar DealsMultiFamily
Sold 08/08/2023
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale
The Related Companies and Orda Management have successfully sold a tower within their 130 West 15th Street complex in Chelsea to Pacific Urban Investors for a total of $185 million. This transaction in the multifamily market demonstrates its resilience despite sluggish investment sales. The property is located at 130 West 15th Street in the Chelsea market.
Summary of transation details
- Property Type: MultiFamily
- Transaction Amount: $185,000,000
- Market: Chelsea
- Seller: Related Companies - Jeff Blau & Orda Management
- Buyer: Pacific Urban Investors
Pacific Urban Investors has acquired the tower from Related Companies and Orda Management. The transaction signifies the continued interest in the multifamily market and demonstrates the successful collaboration between these key players in the industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$657,265.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$876,994.38
Annual Debt Service$10,523,932.59
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