MAG Partners Acquires Co-Op In Chelsea For $63.8 Million
335 8th Avenue, New York City, New York 10001, United States
$63,800,000
Building Size
—
Asset Type
Other
Closing
May 1, 2023
About this deal
AI
A co-op located at 335 Eighth Avenue in Chelsea was recently sold on a leasehold basis. The sale took place on January 5, 2023. The buyer, MAG Partners, was represented by MaryAnne Gilmartin. On the other hand, the seller, Penn South, was represented by Ryan Dziedziech. The transaction amounted to $63,800,000.
Summary of transaction details:
- Property Type: Co-Op
- Transaction Amount: $63,800,000
- Address: 335 Eighth Avenue
- Market: Chelsea
MaryAnne Gilmartin, representing MAG Partners, played a crucial role in the deal as the buyer's representative. Ryan Dziedziech, representing Penn South, served as the seller's representative in the transaction.
On the Map
$63,800,000
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93