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447 West 51st Street, New Y...

Updated Dec 19, 2023

Christopher Romano Acquires Multifamily Property In Clinton - Hell's Kitchen For $3.4M
SOLDMultiFamily

Christopher Romano Acquires Multifamily Property In Clinton - Hell's Kitchen For $3.4M

447 West 51st Street, New York City, New York 10019, United States

$3,425,000

$1,122/SF

Building Size

3,052 SF

Asset Type

MultiFamily

Closing

Jul 11, 2022

About this deal

AI

A multifamily property located at 447 West 51 Street in the Clinton-Hell's Kitchen neighborhood of Manhattan has been sold in a transaction on July 12, 2022. The property is zoned as R8 and has a floor area ratio (FAR) of 1.52. It falls under tax class 2A. The lot size measures 2,008 square feet, with dimensions of 20 feet by 100.42 feet.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,425,000
  • Buyer: Christopher Romano
  • Seller: Tiffany Hott
  • Building Square Footage: 12,088
  • Price per Square Foot: $283
  • Lot Square Footage: 3,052
  • Price per Square Foot (Land): $1,122
  • Last Sale Price: $3,460,000 (09/13/2007)

Christopher Romano represented the buyer in this transaction, while Tiffany Hott represented the seller. The property was sold at a price of $3,425,000, with a building square footage of 12,088 and a price per square foot of $283. The lot square footage is 3,052, with a price per square foot of land at $1,122. The previous sale price of the property was $3,460,000 on September 13, 2007.

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $1.1K per square foot on a published $3.4M for 3,052 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.63%

Cash-on-Cash

-1.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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