Updated Dec 21, 2023
Minhui Chen Acquires Single Family Property In Chelsea, Manhattan For $10.6M
451 West 24th Street, Manhattan, New York, NY, USA
$10,600,000
$3,154/SF
Building Size
3,360 SF
Asset Type
Single Family Residence
Closing
Nov 11, 2021
About this deal
AI
A single-family property located at 451 West 24 Street in the Chelsea neighborhood of Manhattan has been sold. The transaction took place on November 12, 2021. The property is zoned as R7B and has a total square footage (SF) of 3,360. The sale price for the property was $10,600,000, with a price per square foot (PPSF) of $3,155. The buyer of the property is Minhui Chen, while the seller is Jordan Mautner. The previous sale of the property occurred on August 16, 2016, for a price of $13,000,000.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $10,600,000
- Address: 451 West 24 Street
- Market: Chelsea, Manhattan
- Zoning: R7B
The property has a building square footage (BSF) of 6,171 and a price per BSF (PPBSF) of $1,718. The lot size is 2,057 square feet, with dimensions of 20.83 ft x 98.75 ft. The floor area ratio (FAR) for the property is 1.63, and it falls under tax class 1.
Minhui Chen acted as the buyer's representative in the transaction, and Jordan Mautner represented the seller.
Players
New York Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $3.2K per square foot on a published $10.6M for 3,360 square feet (2021).
Browse New York single family residence sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93