Akam Associates Acquires Retail Condo In Chelsea For $11M
133 West 22nd Street, Manhattan, New York, NY, USA
$11,000,000
$1,070/SF
Building Size
10,276 SF
Asset Type
Retail
Closing
May 13, 2020
AI
The property involved in this transaction is a retail condo located at 133 West 22nd Street in Chelsea. It has a total square footage of 10,276, and the sale price for this property is $11,000,000. The price per square foot is calculated to be $1,070. The tenants occupying this retail condo are SP Parking and Kumon.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $11,000,000
- Address: 133 West 22nd Street
- Market: Chelsea
The buyer in this transaction is Akam Associates, while the sellers are Magnum Real Estate Group, RoundSquare Development, and Lam & W Realty. The brokers involved in this deal are Daniel Kaplan and Justin Arzi from CBRE.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93