Bart Stanco Acquires Multifamily Asset At 458 West 51st Street Hell's Kitchen For $4M
SOLD
New York
See Similar DealsMultiFamily4,120 SF
Sold 01/21/2025
SOLD
Bart Stanco Acquires Multifamily Asset At 458 West 51st Street Hell's Kitchen For $4M
458 West 51st Street
See Similar DealsMultiFamily4,120 SF
Sold 01/21/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$970
Total Square Footage:4,120 SF
Transaction Type:Sale
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49
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