Feil Organization & Peter Armstrong Acquires Office Building In Chelsea For $72.1M
SOLD
$72,125,000
Virginia
See Similar DealsOffice950,000 SF
Sold
SOLD
Feil Organization & Peter Armstrong Acquires Office Building In Chelsea For $72.1M
516 W 25th St #530, New York, Ny 10001, Usa
See Similar DealsOffice950,000 SF
Sold
Summary
VIRGINIA
Asset Type:Office
Price Per Square Foot:$75
Total Square Footage:950,000 SF
Transaction Type:Sale
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.
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,846,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$256,244.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$341,909.30
Annual Debt Service$4,102,911.56
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