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Tom Gelb Purchases 16518 Square Foot Office Condo In Upper West Side For $23 Million
SOLD
$23,000,000
New York
See Similar DealsOffice16,518 SF
Sold 11/13/2025
SOLD
Tom Gelb Purchases 16518 Square Foot Office Condo In Upper West Side For $23 Million
100 West 93rd Street
See Similar DealsOffice16,518 SF
Sold 11/13/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$1,392
Total Square Footage:16,518 SF
Transaction Type:Sale
The transaction involves an office condo located at 100 West 93rd Street in the Upper West Side market. The property encompasses 16,518 square feet and was sold for a total of $23,000,000, equating to a price per square foot of $1,392.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $23,000,000
- Square Footage: 16,518
- Price per Square Foot: $1,392
- Buyer: Tom Gelb - Manhattan Childrens Center
- Seller: Steven Neuman & Israel Weinberger
This transaction highlights Tom Gelb representing the Manhattan Children's Center, who acquired the property from sellers Steven Neuman and Israel Weinberger, facilitating the completion of the deal for the office condo.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,226,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$81,714.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,031.73
Annual Debt Service$1,308,380.81
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