Feil Organization & Peter Armstrong Acquires Office Building In Chelsea For $72.1M
516 W 25th St #530, New York, Ny 10001, Usa
$72,125,000
$75/SF
Building Size
950,000 SF
Asset Type
Office
Closing
Dec 5, 2019
About this deal
AI
The office building located at 516-530 West 25th Street in Chelsea has been sold in a closed transaction for a price of $72,125,000. Spanning across 95,000 square feet, this property boasts a price per square foot of $759. The sale involved the seller, The Brown Family, representing The Brown Company, and the buyer, The Feil Organization and Peter Armstrong of Rigby Management.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $72,125,000
- Address: 516-530 West 25th Street
- Market: Chelsea
- Square Footage: 95,000
- Price per Square Foot: $759
The transaction was facilitated by brokers Robert Khodadadian and Daniel Shirazi of Skyline Properties, representing both the buyers and sellers involved in the deal.
On the Map
$72,125,000
$75/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93