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158 West 23rd Street

Abraham Kassin Acquires Retail Condo In Chelsea, Manhattan For $1.5M
SOLDRetail

Abraham Kassin Acquires Retail Condo In Chelsea, Manhattan For $1.5M

158 West 23rd Street

$1,500,000

$750/SF

Building Size

2,000 SF

Asset Type

Retail

Closing

Dec 27, 2022

AI

Located at 158 West 23rd Street in Chelsea, Manhattan, this retail condo was recently sold in a closed transaction. The property spans 3,286 square feet, with a sale price of $1,500,000, resulting in a price per square foot of $456. The transaction was completed on December 27, 2022.

Summary of Transaction Details

Represented by Howard Raber Esq. and Shimon Shkury of Ariel Property Advisors, Abraham Kassin successfully acquired this retail condo in Chelsea. The deal was finalized, further contributing to the vibrant real estate market in the area.

Players

Howard Raber

Ariel Property Advisors

Broker

$180.6M

vol

17 deals

Broker
Abraham Kassin

Abraham Kassin

KSR Capital

Buyer

$90.5M

vol

13 deals

Buyer

New York Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93