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351 West 47th Street, New Y...

Updated Dec 19, 2023

Van D Fox Acquires Multi Family Property On West 47 Street In Clinton - Hell's Kitchen, Manhattan For $4.1M
SOLDMultiFamily

Van D Fox Acquires Multi Family Property On West 47 Street In Clinton - Hell's Kitchen, Manhattan For $4.1M

351 West 47th Street, New York City, New York 10036, United States

$4,100,000

$502/SF

Building Size

8,165 SF

Asset Type

MultiFamily

Closing

Oct 27, 2021

About this deal

AI

A multi-family property located at 351 West 47 Street in Clinton - Hell's Kitchen, Manhattan has been sold. The property is zoned as R8, CL and has a lot size of 2,044 with dimensions of 21 ft x 100.42 ft. The transaction took place on October 28, 2021, with a sale price of $4,100,000. The building has a total square footage of 8,165 and a buildable square footage of 12,305. The price per square foot for the property is $502, and the price per buildable square foot is $333. The property has a floor area ratio (FAR) of 3.99 and falls under tax class 2B. The previous sale of the property was recorded on November 22, 1983, for $0.

Summary of transaction details:

  • Property Type: Multi Family
  • Transaction Amount: $4,100,000
  • Market: Clinton - Hell's Kitchen, Manhattan
  • Zoning: R8, CL
  • Lot Size: 2,044
  • Lot Dimension: 21 ft x 100.42 ft
  • Total Square Footage: 8,165
  • Buildable Square Footage: 12,305
  • Price per Square Foot: $502
  • Price per Buildable Square Foot: $333
  • Floor Area Ratio (FAR): 3.99
  • Tax Class: 2B
  • Last Sale Price: $0 (11/22/1983)

The buyer of the property is Van D Fox, and the seller is Owen Wincig.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $502 per square foot on a published $4.1M for 8,165 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.87%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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