Updated Oct 29, 2024
Yagihyo Shokusan Co., Ltd Acquires Hell's Kitchen Multifamily For $6.6M
340 West 48th Street New York, New York 10036, USA
$6,600,000
$880/SF
Building Size
7,497 SF
Asset Type
MultiFamily
Closing
Jun 8, 2023
About this deal
AI
Yagihyo Shokusan Co., Ltd, operating through Yagihyo Shokusan, has acquired a 15-unit residential walk-up building located at 340 West 48th Street in Hell's Kitchen, Manhattan. The property was purchased for a total of $6.6 million. The building has a total square footage of 15,110 square feet, resulting in a price per square foot of $437. Each unit has an average size of 7,497 square feet, with a price per square foot of $880.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,600,000
- Address: 340 West 48th Street, Hell's Kitchen, Manhattan
- Market: Hell's Kitchen, Manhattan
- Buyer: Yagihyo Shokusan Co., Ltd - Yagihyo Shokusan
- Seller: Relo Redac Inc
- Building Size: 15,110 square feet
- Price per Square Foot (BSF): $437
- Unit Size: 7,497 square feet
- Price per Square Foot (PPSF): $880
The transaction represents Yagihyo Shokusan's expansion into the Hell's Kitchen area, with the purchase of this residential walk-up building. Relo Redac Inc was the seller in this deal.
Players
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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