Empire Capital Holdings And Prime Group Holdings Buy Winter Properties In Hell's Kitchen
550 West 25th Street & 599 11th Avenue
$40,000,000
$388/SF
Building Size
103,000 SF
Asset Type
Mixed-use
Closing
Jul 26, 2025
AI
The property is a mixed-use asset located at 550 West 25th Street and 599 11th Avenue in Hell's Kitchen, Manhattan. The sale price was $40,150,000 for about 34,000 square feet, equating to roughly $1,181 per square foot.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $40,150,000
- Address: 550 West 25th Street & 599 11th Avenue
- Market: Hell's Kitchen, Manhattan
- Square Footage: 34,000
- Price per Square Foot: $1,181
- Buyers: Aaron Bergman & Ebi Khalili - Empire Capital Holdings; Robert Moser - Prime Group Holdings
- Seller: Winter Properties
- Seller's Representative: CBRE (Doug Middleton, Jack Stillwagon, Daniel Kaplan, Justin Arzi)
- Sale Date: 7/27/2025
The transaction centers on buyers Aaron Bergman and Ebi Khalili of Empire Capital Holdings, and Robert Moser of Prime Group Holdings, with Winter Properties as the seller. CBRE represented the seller, led by brokers Doug Middleton, Jack Stillwagon, Daniel Kaplan, and Justin Arzi.
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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93