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369 West 46th Street

Eric Hanninen Acquires Mixed-Use Property At 369 West 46th Street For $5.8M
SOLDMixed-use

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

Bernadette Brennan

Serhant

Broker

$206.8M

vol

11 deals

Broker

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