Gatsby Enterprises Sells Multifamily Property In Hell's Kitchen For $7M
SOLD
$7,000,000
New York
See Similar DealsSold 07/18/2022
SOLD
Gatsby Enterprises Sells Multifamily Property In Hell's Kitchen For $7M
437 W. 46th St.
See Similar DealsSold 07/18/2022
Summary
NEW YORK
Transaction Type:Sale
A multifamily property located at 437 W. 46th St. in Hell's Kitchen, was recently sold for $7,000,000. The transaction took place on 07/18/2022. The property consists of 20 units with an average price per unit of $350,000. The total square footage of the property is 9,360, resulting in a price per square foot of $747.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Units: 20
- Price per Unit: $350,000
- Square Footage: 9,360
- Price per Square Foot: $747
- Market: Hell's Kitchen
The property was sold by Gatsby Enterprises. The sale was facilitated by Alan Stenson of Brax Realty acting as the broker. Alan Stenson played a crucial role in representing Gatsby Enterprises in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85
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