Updated Dec 22, 2023
Jessica Eker Acquires Multifamily Property In Chelsea, Manhattan For $5.3M
428 West 22nd Street, New York City, New York 10011, United States
$5,300,000
$1,644/SF
Building Size
3,223 SF
Asset Type
MultiFamily
Closing
Apr 27, 2022
About this deal
AI
The multifamily property located at 428 West 22nd Street in Chelsea, Manhattan was recently sold for $5,300,000. The property has a building square footage (BSF) of 5,463 and a price per BSF (PPBSF) of $970. Additionally, it has a total square footage (SF) of 3,223 with a price per square foot (PPSF) of $1,644. The lot size is 1,821 square feet and the lot dimensions are 19.58 ft x 93 ft. The property falls under tax class 1 and has a floor area ratio (FAR) of 1.77. The most recent permit for the property was an alteration permit issued on December 30, 2014.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,300,000
- Market: Chelsea, Manhattan
- Zoning: R7B
Jessica Eker purchased the property from Carolynn R Meinhardt. Their brokers in the deal were not mentioned in the provided information.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93