Updated Jun 23, 2026
SOLDMultiFamily
Michael Mandelbaum Acquires Chelsea Apartment From Jason Kimmel For $26.75M
520 West 23rd Street, New York City, New York 10011, United States
$26,750,000
$279/SF
Building Size
95,666 SF
Asset Type
MultiFamily
Closing
Dec 28, 2021
About this deal
AI
An apartment located at 520 West 23 Street in Chelsea, Manhattan has been sold in a recent transaction. The property is zoned as C6-3A, WCh, and has an address in the prime neighborhood of Chelsea. The sale took place on December 29, 2021.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $26,750,000
- Address: 520 West 23 Street
- Market: Chelsea, Manhattan
The buyer of the apartment is Michael Mandelbaum, while the seller is Jason Kimmel. The property was sold for a price of $26,750,000. The building has a total square footage of 95,666, and the price per square foot amounts to $279. The buyer purchased the property with a building square footage (BSF) of 91,180, resulting in a price per BSF of $239.
Additional details about the property show that it has a floor area ratio (FAR) of 7.89 and falls under tax class 2. The lot size is 12,125, and the lot dimensions measure 122.5 feet by 98.75 feet. An alteration permit was issued for the property on March 10, 2021.
Players
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Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93