Maxwelle Realty Sells 3,496 SF Retail Property At 357 West 16th Street For $7.7M
SOLD
$7,700,000
New York
See Similar DealsRetail3,496 SF
Sold 05/29/2026
SOLD
Maxwelle Realty Sells 3,496 SF Retail Property At 357 West 16th Street For $7.7M
357 West 16th Street
See Similar DealsRetail3,496 SF
Sold 05/29/2026
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$2,202
Total Square Footage:3,496 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$410,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,356.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,501.93
Annual Debt Service$438,023.14
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