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Sterling Equities Sells Chelsea SFR On West 20th Street For $22.5M

Property Image
SOLD
$22,500,000
Robert McCain
Jim St. André

New York

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Single Family Residence7,058 SF
Sold 11/17/2021
the dealplayerscompscontact
Property Image
SOLD

Sterling Equities Sells Chelsea SFR On West 20th Street For $22.5M

334 West 20th Street, Manhattan, New York, NY, USA

See Similar Deals
Single Family Residence7,058 SF
Sold 11/17/2021
Robert McCain
Jim St. André
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Single Family Residence
Price Per Square Foot:$3,187
Total Square Footage:7,058 SF
Transaction Type:Sale

Located in Chelsea, the recently closed property transaction involved the sale of a single-family residence at 334 West 20th Street. The property, spanning 7,058 square feet, was listed for an asking price of $25,000,000. The sale price was negotiated and finalized at $22,500,000, resulting in a price per square foot of $3,187. The transaction was completed on 11/17/2021.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $22,500,000
  • Market: Chelsea
  • Square Footage: 7,058
  • Address: 334 West 20th Street

Sterling Equities served as the seller in this record-breaking townhouse sale. The property caught the attention of buyers Jim St. Andre and Robert McCain, represented in the deal by the t.AndreTeam from an undisclosed agency. This transaction marks the highest sale price ever recorded for a townhouse in Chelsea, surpassing the previous record by 40%.

Players

Jim St. André
Compass
Jim St. André
12 deals$306.7M volume
BROKER
Robert McCain
Compass
Robert McCain
1 deal$22.5M volume
BROKER
SE
Sterling Equities
SELLER

Details

SOLD
IMAGE: Jim St. Andre & Robert McCain DATE: 11/17/2021 ADDRESS: 334 West 20th Street MARKET: Chelsea ASSET TYPE: SFR SELLER: Sterling Equities BROKERS: Jim St. Andre (@Jim_StAndre) & Robert McCain (@McCainWallison) - @St.AndreTeam ASKING PRICE: $25,000,000 SALE PRICE: $22,500,000 SF: 7,058 ~ PPSF: $3,187 NOTE @St.AndreTeam: Sets record for the most expensive townhouse sale ever sold in Chelsea. 40% higher than the previous record for a townhouse sale.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,200,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75