Daily limit: 0/10
Cobby Gorjian Of Gorjian Real Estate Group Acquires 50-Unit Building In Hell's Kitchen For $16.5M
SOLD
$16,500,000
New York
See Similar DealsMultiFamily
Sold 09/09/2024
SOLD
Cobby Gorjian Of Gorjian Real Estate Group Acquires 50-Unit Building In Hell's Kitchen For $16.5M
425 West 57th Street
See Similar DealsMultiFamily
Sold 09/09/2024
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involves a multi-family residential building located at 425 West 57th Street in Hell's Kitchen, Manhattan. The property was sold for $16,500,000 and comprises a building size of 39,210 square feet. The sale reflects a price of $420 per built square foot, with the asset having 21,289 square feet of air rights available.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $16,500,000
- Address: 425 West 57th Street
- Buyer: Cobby Gorjian - Gorjian Real Estate Group
- Seller: Robert L. Miller
- BSF: 60,452
- PPBSF: $273
Cobby Gorjian represents Gorjian Real Estate Group, which successfully acquired the 50-unit residential property, facilitating this transaction with Robert L. Miller as the seller. This deal highlights the ongoing activity in the Hell's Kitchen real estate market.
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$880,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,621.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,218.42
Annual Debt Service$938,621.01
Is there something missing? Send suggestions