Aaron Luo Acquires Office Building In Chelsea For $2.1M
SOLD
$2,100,000
New York
See Similar DealsOffice3,425 SF
Sold 11/10/2021
SOLD
Aaron Luo Acquires Office Building In Chelsea For $2.1M
119 West 22nd Street, New York City, New York 10011, United States
See Similar DealsOffice3,425 SF
Sold 11/10/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$613
Total Square Footage:3,425 SF
Transaction Type:Sale
An office property located at 119 W. 22nd Street in Chelsea, New York City, was recently sold for $2,100,000. The property spans a total area of 3,425 square feet, resulting in a price per square foot of $613. The sale transaction was completed on November 10, 2021.
Summary of transaction details
- Property Type: Office
- Sale Price: $2,100,000
- Square Footage: 3,425
- Price Per Square Foot: $613
- Market: Chelsea
- Buyer: Aaron Luo
- Seller: Patricia Kuwaya
- Broker: Mark Roopchan - Prime Manhattan Realty
The buyer of the property was Aaron Luo, and the seller was Patricia Kuwaya. The transaction was facilitated by Mark Roopchan from Prime Manhattan Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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