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Peter Hungerford Acquires Apartment Building In Clinton - Hell's Kitchen, Manhattan For $8.2M

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SOLD
$8,200,000

New York

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MultiFamily11,536 SF
Sold 05/13/2022
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Property Image
SOLD

Peter Hungerford Acquires Apartment Building In Clinton - Hell's Kitchen, Manhattan For $8.2M

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

See Similar Deals
MultiFamily11,536 SF
Sold 05/13/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$710
Total Square Footage:11,536 SF
Transaction Type:Sale

The property at 315 West 54th Street, located in Clinton - Hell's Kitchen, Manhattan, was recently sold in a closed transaction. The asset is an apartment building with a zoning classification of R8. The sale took place on 05/13/2022, and the buyer of the property is Peter Hungerford.

Summary of transaction details

  • Property Type: Apartment
  • Transaction Amount: $8,200,000
  • Address: 315 West 54th Street
  • Market: Clinton - Hell's Kitchen, Manhattan
  • Zoning: R8

The property has a building square footage (BSF) of 17,627, with a price per BSF (PPBSF) of $465. The total square footage (SF) of the property is 11,536, with a price per square foot (PPSF) of $710. The FAR (Floor Area Ratio) is 3.94, and the tax class is 2.

Additional details about the property include a lot size of 2,928, permits for alteration 1 dated 12/03/2014, and lot dimensions measuring 29.17 ft x 100.42 ft.

Players

12 deals$503M volume
BUYER

Details

SOLD
IMAGE: 05/13/2022 ADDRESS: 315 West 54th Street MARKET: Clinton - Hell's Kitchen, Manhattan ASSET TYPE: Apartment ~ ZONING: R8 BUYER: Peter Hungerford PRICE: $8,200,000 BSF: 17,627 ~ PPBSF: $465 SF: 11,536 ~ PPSF: $710 FAR: 3.94 TAX CLASS: 2 LOT SIZE: 2,928 PERMITS: Alteration 1 (12/03/2014) LOT DIMENSION: 29.17 ft x 100.42 ft

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

$437,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,132.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,872.18
Annual Debt Service$466,466.20