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363 Seventh Avenue

Updated Mar 5, 2025

Ray Yadidi And Payman Yadidi Of Sioni Group Acquire Office Building In Chelsea For $21.34M
SOLDOffice

Ray Yadidi And Payman Yadidi Of Sioni Group Acquire Office Building In Chelsea For $21.34M

363 Seventh Avenue

$21,340,000

$255/SF

Building Size

83,642 SF

Asset Type

Office

Closing

Feb 26, 2025

About this deal

AI

The property asset involved is an office building located at 363 7th Avenue in Chelsea, Manhattan. The property was sold for a total of $21,340,000, encompassing a total square footage of 83,642 and a price per square foot of $255.

Summary of transaction details:

Ray Yadidi’s Sioni Group has acquired the office building from Empire Management, marking a significant decline from its previous purchase price of $35.7 million in 2014.

On the Map

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$21,340,000

$255/SF

Office

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Players

Robert Knakal

BKREA

Broker

$3.6B

vol

73 deals

Broker
Jas Saini
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Jas Saini

BKREA

Broker

$104.4M

vol

4 deals

Broker
Ray Yadidi

Ray Yadidi

Sioni Group

Buyer

$1.2B

vol

13 deals

Buyer
Sioni Group
Sioni GroupBuyer
Fred Ohebshalom

Fred Ohebshalom

Empire Management

Seller

$282.4M

vol

8 deals

Seller
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New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $255 per square foot on a published $21.3M for 83,642 square feet (2025).

Visit Robert (Bob) Knakal to view all their deals.

Browse New York office sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.74%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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