Bart Stanco Acquires Multifamily Asset At 458 West 51st Street Hell's Kitchen For $4M
458 West 51st Street
$4,000,000
$970/SF
Building Size
4,120 SF
Asset Type
MultiFamily
Closing
Jan 21, 2025
AI
This multifamily asset is located at 458 West 51st Street in the Hell's Kitchen neighborhood of Manhattan. The property consists of 5 units and encompasses a total square footage of 4,120. The sale price of the property was $4,000,000, translating to a price per unit of $800,000 and a price per square foot of $970.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Units: 5
- Square Footage: 4,120
- Price Per Unit: $800,000
- Price Per Square Foot: $970
- Buyer: Bart Stanco
- Brokers: Matt Mastrocola, Dylan Kane & Zach Redding - Colliers
- Date of Transaction: 01/21/2025
The transaction was facilitated by brokers from Colliers, specifically Matt Mastrocola, Dylan Kane, and Zach Redding, who represented the buyer, Bart Stanco, in this deal.
Players
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93