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458 West 51st Street

Bart Stanco Acquires Multifamily Asset At 458 West 51st Street Hell's Kitchen For $4M
SOLDMultiFamily

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

Dylan Kane

Colliers

Broker

$3B

vol

59 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage

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