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Peter Hungerford Acquires Apartment In Clinton - Hell's Kitchen, Manhattan For $6.6M

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SOLD
$6,600,000

New York

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MultiFamily11,540 SF
Sold 05/13/2022
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Property Image
SOLD

Peter Hungerford Acquires Apartment In Clinton - Hell's Kitchen, Manhattan For $6.6M

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

See Similar Deals
MultiFamily11,540 SF
Sold 05/13/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$571
Total Square Footage:11,540 SF
Transaction Type:Sale

An apartment building located at 311 West 54th Street in the Clinton - Hell's Kitchen neighborhood of Manhattan has been sold in a closed transaction. The property, which falls under the R8 zoning category, was purchased by Peter Hungerford.

Summary of transation details

  • Property Type: Apartment
  • Transaction Amount: $6,600,000
  • Building Square Footage: 11,540
  • Price per Square Foot: $571
  • Total Building Square Footage (BSF): 17,633
  • Price per BSF: $374
  • Lot Size: 2,929
  • Lot Dimension: 29.17 ft x 100.42 ft
  • Floor Area Ratio (FAR): 3.94
  • Tax Class: 2
  • Permits: Alteration 1 (09/22/2011)

The apartment building is situated on a lot with a dimension of 29.17 ft x 100.42 ft and offers a total floor area ratio of 3.94. It is classified under tax class 2 and was subject to alteration permits in 2011.

Players

12 deals$503M volume
BUYER

Peter Hungerford
12 deals$503M volume
BUYER

Details

SOLD
IMAGE: 05/13/2022 ADDRESS: 311 West 54th Street MARKET: Clinton - Hell's Kitchen, Manhattan ASSET TYPE: Apartment ~ ZONING: R8 BUYER: Peter Hungerford PRICE: $6,600,000 BSF: 17,633 ~ PPBSF: $374 SF: 11,540 ~ PPSF: $571 FAR: 3.94 TAX CLASS: 2 LOT SIZE: 2,929 PERMITS: Alteration 1 (09/22/2011) LOT DIMENSION: 29.17 ft x 100.42 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$352,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,448.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,287.37
Annual Debt Service$375,448.41