Pacific Urban Investors Acquires Multifamily Property In Chelsea, Manhattan For $185M
SOLD
$185,000,000
+ 3
New York
See Similar DealsMultiFamily147,000 SF
Sold 08/07/2023
SOLD
Pacific Urban Investors Acquires Multifamily Property In Chelsea, Manhattan For $185M
130 W 15th St New York, NY 10011, USA
See Similar DealsMultiFamily147,000 SF
Sold 08/07/2023
+ 3
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,258
Total Square Footage:147,000 SF
Transaction Type:Sale
A multifamily property located at 130 West 15th Street in Chelsea, Manhattan has been sold for a total price of $185,000,000. The property spans over 147,000 square feet, resulting in a price per square foot of $1,259. This transaction took place on 08/07/2023.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $185,000,000
- Address: 130 West 15th Street
- Market: Chelsea, Manhattan
- Buyer: Pacific Urban Investors
- Seller: Related Companies
- Brokers: Adam Doneger, Adam Spies, Avery Silverstein, Marcella Fasulo, Douglas Harmon, and Joshua King - Newmark
The buyer of the property is Pacific Urban Investors, while the seller is Related Companies. The deal was facilitated by brokers Adam Doneger, Adam Spies, Avery Silverstein, Marcella Fasulo, Douglas Harmon, and Joshua King from Newmark. These individuals played a key role in the successful completion of the transaction.
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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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