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242 West 27th Street

Leon Hedvat Purchases Office In Chelsea Manhattan From Walter And Samuels For $6.33M
SOLDOffice

Leon Hedvat Purchases Office In Chelsea Manhattan From Walter And Samuels For $6.33M

242 West 27th Street

$6,326,000

$423/SF

Building Size

14,952 SF

Asset Type

Office

Closing

Jul 16, 2026

AI

The office property located at 242 West 27th Street in Chelsea, Manhattan was sold for $6,326,000. The asset encompasses a total area of 14,952 square feet, with a price per square foot of $423.

Summary of transaction details:

The transaction featured notable individuals including buyer Leon Hedvat and seller representatives Walter and Samuels. The deal was facilitated by brokers David Schechtman, Henry Barnathan, and Jonathan Schwartz from Meridian Capital Group, showcasing a collaborative effort in the successful closing of this property transaction.

Players

David Schechtman

Meridian Capital Group

Broker

$1.8B

vol

73 deals

Broker

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.51%

Cash-on-Cash

-0.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93