Eric Hanninen Acquires Mixed-Use Property At 369 West 46th Street For $5.8M
369 West 46th Street
$5,800,000
$1,231/SF
Building Size
4,709 SF
Asset Type
Mixed-use
Closing
Mar 20, 2025
AI
The asset involved in this transaction is a mixed-use property located at 369 West 46th Street within the Hell's Kitchen market. The sale was conducted for $5,800,000, equating to a price per square foot of $1,231, encompassing a total of 4,709 square feet.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,800,000
- Address: 369 West 46th Street
- Market: Hell's Kitchen
- Square Footage: 4,709
- Price per Square Foot: $1,231
- Buyer: Eric Hanninen
- Seller: James Glenn
- Broker Representatives: Issy Leiter, Bernadette Brennan, and Jade Shenker - Serhant
This transaction was handled by the Brennan Commercial Team, with Berandette Brennan, Issy Leiter, and Jade Shenker representing both the buyer and the seller, facilitating a direct deal for a prime nightlife property featuring residential space above.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93