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Cris Burnam Acquires Warehouse In Clinton - Hell's Kitchen, Manhattan For $227.1M

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SOLD
$227,100,000

New York

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Industrial211,175 SF
Sold 12/16/2021
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Property Image
SOLD

Cris Burnam Acquires Warehouse In Clinton - Hell's Kitchen, Manhattan For $227.1M

633 West 44th Street, New York City, New York 10036, United States

See Similar Deals
Industrial211,175 SF
Sold 12/16/2021
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$1,075
Total Square Footage:211,175 SF
Transaction Type:Sale

The property involved in this transaction is a warehouse located at 633 West 44th Street in the Clinton - Hell's Kitchen market of Manhattan. The asset was sold for a total transaction amount of $227,100,000 and encompasses a building square footage of 211,175. The property features a building size of 170,125 with a price per building square foot of $1,335, and a price per square foot of $1,075. The zoning designation is M2-4, CL, and the lot size is 34,025, with dimensions of 191 ft x 201 ft. The property was last sold on February 27, 1998, for a sale price of $0. The Floor Area Ratio (FAR) is 6.21, and the tax class assigned to the asset is 4.

Summary of transaction details:

  • Property Type: Warehouses
  • Transaction Amount: $227,100,000
  • Buyer: Cris Burnam
  • Seller: Jon Dario
  • Building Square Footage: 211,175
  • Building Size: 170,125
  • Price per Building Square Foot: $1,335
  • Price per Square Foot: $1,075
  • Lot Size: 34,025
  • Lot Dimensions: 191 ft x 201 ft
  • Floor Area Ratio (FAR): 6.21
  • Tax Class: 4

The key individuals involved in this transaction are Cris Burnam, acting as the buyer, and Jon Dario, representing the seller. This sale marks a significant transfer of a large warehouse asset in the Manhattan area, indicating active market engagement within the commercial real estate sector.

Players

22 deals$3B volume
BROKER

Cris Burnam
18 deals$3B volume
BUYER

Jon Dario
22 deals$3B volume
SELLER

Details

SOLD
IMAGE: 12/16/2021 ADDRESS: 633 West 44th Street MARKET: Clinton - Hell's Kitchen, Manhattan ASSET TYPE: Warehouses ~ ZONING: M2-4, CL BUYER: Cris Burnam SELLER: Jon Dario PRICE: $227,100,000 BSF: 170,125 ~ PPBSF: $1,335 SF: 211,175 ~ PPSF: $1,075 FAR: 6.21 TAX CLASS: 4 LOT SIZE: 34,025 LAST SALE PRICE: $0 (2/27/1998) LOT DIMENSION: 191 ft x 201 ft

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$806,838.33
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