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351 West 45th Street

Steven Croman Sells Hell's Kitchen Multifamily For $20M Through Cushman & Wakefield
SOLDMultiFamily

Steven Croman Sells Hell's Kitchen Multifamily For $20M Through Cushman & Wakefield

351 West 45th Street & 357 West 45th Street

$20,000,000

$251/SF

Building Size

79,472 SF

Asset Type

MultiFamily

Closing

Jun 26, 2024

AI

The multifamily property located at 351-357 West 45th Street in Hell's Kitchen, Manhattan was sold by Steven Croman. The property consists of 80 units spanning 39,736 square feet, with a sale price of $20,000,000. The price per unit was $250,000, and the price per square foot was $503.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $20,000,000
  • Units: 80
  • Price Per Unit: $250,000
  • Square Footage: 39,736
  • Price Per Square Foot: $503
  • Address: 351-357 West 45th Street
  • Market: Hell's Kitchen, Manhattan
  • Seller: Steven Croman
  • Brokers: Jordan Sutton, Andrew Berry & Charlie Gravina - Cushman & Wakefield

The sale of this multifamily property was facilitated by brokers Jordan Sutton, Andrew Berry, and Charlie Gravina from Cushman & Wakefield, showcasing their expertise in property transactions in the vibrant market of Hell's Kitchen, Manhattan.

Players

Charlie Gravina

Cushman & Wakefield

Broker

$280.6M

vol

21 deals

Broker

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

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93