Updated Oct 29, 2024
Tomoaki Horiguchi Acquires Hell's Kitchen Multifamily For $4.75M
340 West 48th Street, New York, NY, USA
$4,750,000
$641/SF
Building Size
7,400 SF
Asset Type
MultiFamily
Closing
Dec 20, 2018
About this deal
AI
The property involved in this transaction is a multifamily building located at 340 West 48th Street in Hells Kitchen. The sale took place on December 21, 2018. The property spans 7,400 square feet and was sold for a price of $4,750,000, resulting in a price per square foot of $642.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,750,000
- Address: 340 West 48th Street
- Market: Hells Kitchen
The seller in this transaction was The Hector Alvarez Irrevocable Trust, while the buyer was Tomoaki Horiguchi. The deal was facilitated by broker Alan Stenson from Brax Realty.
Players
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
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93