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357 West 16th Street

Maxwelle Realty Sells 3,496 SF Retail Property At 357 West 16th Street For $7.7M
SOLDRetail

Maxwelle Realty Sells 3,496 SF Retail Property At 357 West 16th Street For $7.7M

357 West 16th Street

$7,700,000

$2,202/SF

Building Size

3,496 SF

Asset Type

Retail

Closing

May 28, 2026

AI

The property asset involved in this transaction is a retail space located at 357 West 16th Street in Chelsea, Manhattan. The sale price for this asset was $7,700,000, with a total area of 3,496 square feet, resulting in a price per square foot of $2,202.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $7,700,000
  • Address: 357 West 16th Street
  • Market: Chelsea, Manhattan
  • Square Footage: 3,496
  • Price Per Square Foot: $2,202
  • Seller: Maxwelle Realty
  • Broker Representatives: Brent Glodowski & Lea Voytovich - Avison Young

The key individuals involved in this deal are Brent Glodowski and Lea Voytovich, who represented the seller, Maxwelle Realty, in this transaction.

Players

Brent Glodowski

Avison Young

Broker

$612M

vol

34 deals

Broker

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

2.06%

Cash-on-Cash

-0.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93