Chelsea condo unit sells for $13M, down from $17.8M in 2016

The Tiamat Properties Revocable Trust paid $13 million to entity Spector Properties LLC for condo (SC) unit 17A at 551 West 21st Street in Chelsea, Manhattan.
The deal closed on July 1, 2021 and was recorded on July 19, 2021.
The property has 4,271 square feet of built space and 0 square feet of additional air rights for a total buildable of 0 square feet according to PincusCo analysis of city data. The sale price per built square foot is $3,044 per the PincusCo analysis.
The owner bought the property on 22-Nov-16, for $17.8 million.
The signatory for SR Capital was Rodrigo Gonzalez. The signatory for The Tiamat Properties Revocable Trust was Reena Thadhani.
(121327331)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 44 residential units on May 6, 2016. (121327331) Plans for a 44-unit, 163,269 square-foot R-2 were filed on January 8, 2013 and were permitted on February 7, 2014.
This is for unit 17A. Scott Resnick, president and CIO of SR Capital was the developer of this condo building.
There was a condominium project filed with the address 551 West 21st Street and the name 551 West 21st Street Condominium on June 26, 2013. The principals of the sponsor, 551 West 21st Street Owner Llc, were Scott Resnick, Dan Lustig, Max Eisenstein, and Jacqueline Dechongkit. link
Within a 400-foot radius of 551 West 21st Street, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, three were for major renovation including a certificate of occupancy change. They were three permits with a total initial cost of $11.2 million. The most recent of these three items was the permit on May 28, 2021 for a 28,819-square-foot E building with N/A residential units at 556 West 22nd Street.
Of those seven items, two were sales above $5 million totaling $1.7 billion. The most recent of the two was Gottesman family which bought the 0-square-foot industrial (G6) on 507 West 21st Street and 27 other properties for $1.6 billion from Gottesman family on March 9, 2021.
Of those seven items, two were loans above $5 million totaling $115.5 million. The most recent of the two was Mark Zittman which borrowed $25.5 million from JPMorgan Chase Bank, N.A. secured by one condo unit in the 0-square-foot, 45-unit mixed-use building (RM) on 144 11th Avenue on September 17, 2020.

Direct link to Acris document. link