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311 West 54th Street, New Y...

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

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

$6,600,000

$571/SF

Building Size

11,540 SF

Asset Type

MultiFamily

Closing

May 12, 2022

AI

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

Peter Hungerford

PH Realty Capital

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

2.40%

Cash-on-Cash

-0.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93