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309 West 54th Street, New Y...

Peter Hungerford Acquires Apartment In Clinton - Hell's Kitchen For $8.4M
SOLDMultiFamily

Peter Hungerford Acquires Apartment In Clinton - Hell's Kitchen For $8.4M

309 West 54th Street, New York City, New York 10019, United States

$8,400,000

$727/SF

Building Size

11,540 SF

Asset Type

MultiFamily

Closing

May 12, 2022

AI

The property at 309 West 54th Street in Clinton - Hell's Kitchen, Manhattan, has been sold in a closed transaction. The apartment is zoned as R8 for residential use and C6-4 for commercial use. The sale took place on 05/13/2022.

Summary of transaction details:

  • Property Type: Apartment
  • Transaction Amount: $8,400,000
  • Market: Clinton - Hell's Kitchen

The buyer of the property is Peter Hungerford. The property was sold at a price of $8,400,000, with a building square footage (BSF) of 17,633. The price per building square footage (PPBSF) is $476. The total square footage (SF) of the property is 11,540, with a price per square footage (PPSF) of $727.

The property has a floor area ratio (FAR) of 3.94 and falls under tax class 2. The lot size is 2,929 and the lot dimensions are 29.17 ft x 100.42 ft. The property has previously obtained an alteration permit (Alteration 2) on 04/22/2015.

Players

Peter Hungerford

Buyer

$503M

vol

13 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.89%

Cash-on-Cash

-0.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93