39 West 23rd Street
This is a straightforward luxury residential condo sale in Manhattan's NoMad submarket, a well-established and liquid high-end residential corridor with strong comparable sales activity. The PPSF of $3,717 is well-supported by proximate comps including the prior arm's-length sale of the same unit at $3,760 PPSF in October 2024, and nearby sales ranging from $2,967 to $5,028 PPSF, indicating the subject is priced at or slightly below mid-market for the submarket. The seller Zachary Weinberg acquired the property just 18 months prior at a marginally higher price ($12.1M), representing a slight nominal loss, which raises a modest flag regarding seller motivation but does not indicate distress. No liens, violations, foreclosure, or litigation are indicated, and the asset type and location support strong liquidity and exit optionality for a lender. The primary underwriting risk is the residential-use nature of the collateral and the slightly negative cash flow profile reflected in the calculator (DSCR of 0.94x), which is typical for trophy residential condos at this price point where financing is often structured around asset value rather than income coverage.
Deal Stats
Parties
Seller / Landlord
Zachary Weinberg
Zachary Weinberg previously acquired this same NoMad condo at 39 West 23rd Street from John Rodriguez in October 2024 for $12.1M, indicating a short hold of approximately 18 months with a minor loss in nominal price, suggesting a motivated or lifestyle-driven disposition rather than a distressed sale.
Buyer / Tenant
Kathleen Broderick
Kathleen Broderick appears to be a high-net-worth private buyer acquiring a luxury penthouse condo in the NoMad submarket; no significant public institutional or commercial real estate track record is widely documented, suggesting a personal-use or wealth-preservation acquisition.
Score Analysis
Why this score
Strong Comparable Sales Support
The $3,717/SF price is well-anchored by the identical unit's prior sale at $3,760/SF and a robust comp range ($2,967–$5,028/SF), reducing valuation risk.
Short Hold & Nominal Loss
The seller's 18-month hold with a $100K loss suggests lifestyle-driven disposition or market timing concerns rather than confidence in appreciation.
NoMad Market Liquidity
NoMad is a mature, liquid luxury residential corridor with consistent transaction velocity and institutional buyer interest, supporting exit optionality.
Substandard DSCR (0.94x)
The below-1.0x debt service coverage ratio is typical for trophy condos but reflects negative carry and income underperformance relative to debt service requirements.
Clean Asset & No Distress Indicators
Absence of liens, violations, foreclosure, or litigation confirms title quality and arm's-length market transaction.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Obtain 24+ month forward lease or pre-lease commitment
Securing tenant occupancy or a lease-back with acceptable credit would improve DSCR above 1.0x and reduce residential-use concentration risk.
Verify buyer liquidity & source of funds
Confirming Kathleen Broderick's equity depth and cash reserves would strengthen underwriting against post-close performance risk on a personal-use trophy asset.
Require seller hold-back or extended warranty
A 6–12 month seller note or representations & warranties insurance would mitigate the reputational risk posed by the recent $100K loss and short hold period.
Raw Deal Textclick to expand
Submit Growing Financial Partnerships For Over 30 Years. Get Started Deals New York Condo Sale 39 West 23rd Street Daily limit: 10/10 Kathleen Broderick Purchases Condo At 39 West 23rd Street From Zachary Weinberg For $12M SOLD $12,000,000 3,228 SF Sold 3 weeks ago the deal details comps related Summary NEW YORK Asset Type: Price Per Square Foot: $3,717 Total Square Footage: Transaction Type: Kathleen Broderick purchased a condo at 39 West 23rd Street in Manhattan's Nomad neighborhood. The asset spans 3,228 square feet with a sale price of $12,000,000 and a price per square foot of $3,717. Summary of transaction details: Property Type: Condo Transaction Amount: $12,000,000 Buyer: Kathleen Broderick Seller: Zachary Weinberg Sale Date: May 10, 2026 Square Footage: 3,228 Price Per Square Foot: $3,717 Zachary Weinberg was the seller in this transaction, while Kathleen Broderick acted as the buyer, completing the deal on May 10, 2026. See More Details Deal Summary IMAGE: 05/10/2026 ADDRESS: 39 West 23rd Street MARKET: Nomad, Manhattan ASSET TYPE: Condo BUYER: Kathleen Broderick SELLER: Zachary Weinberg SALE PRICE: $12,000,000 SF: 3,228 - PPSF: $3,717 NOTE: Kathleen Broderick purchased a 3,228-square-foot penthouse condo at 39 West 23rd Street in Manhattan's Nomad neighborhood from Zachary Weinberg for $12,000,000. The transaction, completed on May 10, 2026, breaks down to a precise price per square foot of $3,717. Email New York | @tradedny These are similar buyers of Condo properties in this price range based on this deal Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. NEW! Search No recent news available for this market No active listings available for this market Suggestions Analyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results. Deal Type SALE LOAN LEASE Purchase Price Loan-to-Value (%) Interest Rate (%) Amortization Period 30 years Loan Term 10 years Operating Income Gross Potential Rent (Annual) Vacancy Rate (%) Operating Expenses (Annual) Property Tax Insurance Maintenance Utilities Management Reserves Reset Net Operating Income (NOI) $640,000.01 Debt Service Coverage Ratio (DSCR) 0.94x DSCR below 1.0x - deal does not cover debt service Cap Rate 5.33% Cash Flow (Annual) -$42,633.46 Cash-on-Cash Return -1.27% Monthly Debt Service $56,886.12 Annual Debt Service $682,633.47 Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. States National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming News Agents Agencies About About Us FAQ Testimonials Help Help Center Return Policy © 2026 Traded Media LLC . All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use Sign in to view more deals Create a free account or sign in to continue viewing deals. Forgot password? Continue OR Google Outlook New to Traded? Sign up