TerraCotta Management Acquires Office Condo At 20 West 33rd Street For $2,439,300

The asset involved in the transaction is an office condominium located at 20 West 33rd Street, situated in the Manhattan market. The sale price for the property was $2,439,300, with a total square footage of 8,131, resulting in a price per square foot of $300.

Summary of transation details:

• Property Type: Office Condo
• Transaction Amount: $2,439,300
• Address: 20 West 33rd Street
• Market: Manhattan
• Square Footage: 8,131
• Price per Square Foot: $300
• Buyer: TerraCotta Management
• Seller: Kevin Chisholm
• Buyer's Representative: Justin Harris - Rudder Property Group

Rudder Property Group represented TerraCotta Management in the purchase of the final sponsor unit at the property for $300/SF — a steep discount from the average sellout of the office condo conversion project of $750/SF, where units have sold for as high as $920/SF.