Robert Von Ancken Acquires Mixed-Use Property In Hell's Kitchen From Jake Croman For $7.7M
459 West 50th Street, New York City, New York 10019, United States
$7,700,000
$1,378/SF
Building Size
5,588 SF
Asset Type
Mixed-use
Closing
May 8, 2022
AI
A mixed-use property located at 459 West 50th Street in Hell's Kitchen has been sold in a transaction. The property spans 5,588 square feet and was sold for a total price of $7,700,000, resulting in a price per square foot of $1,378.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7,700,000
- Address: 459 West 50th Street
- Market: Hell's Kitchen
- Buyer: Robert Von Ancken
- Seller: Jake Croman
- Brokers: James Nelson, Alexandra Marolda, Brandon Polakoff, Ryan McGuirl, and Bradley Rothschild - Avison Young
The deal involved several key individuals and companies. James Nelson, Alexandra Marolda, Brandon Polakoff, Ryan McGuirl, and Bradley Rothschild from Avison Young represented the buyer, Robert Von Ancken, in this transaction. The seller, Jake Croman, was represented by the same team from Avison Young.
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
2.06%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93