Updated Dec 4, 2024
Pervez Siddiqui's 460 West 51st Property LLC Acquires Multifamily Building In Hell's Kitchen For $5M
460 West 51st Street
$5,000,000
$1,129/SF
Building Size
4,428 SF
Asset Type
MultiFamily
Closing
Oct 2, 2023
About this deal
AI
Pervez Siddiqui, representing 460 West 51st Property LLC, has purchased a five-unit residential walkup building located at 460 West 51st Street in Hell's Kitchen, Manhattan. The property was sold by Abid Zulfiqar through Sanna Ak Realty LLC for a total of $5 million.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Address: 460 West 51st Street
- Market: Hell's Kitchen, Manhattan
- Units: 5
- Price per Unit: $1,000,000
- Total Building Square Footage: 12,593
- Price per Building Square Foot: $397
- Total Square Footage: 4,428
- Price per Square Foot: $1,129
Pervez Siddiqui, as the buyer's representative for 460 West 51st Property LLC, successfully closed the deal, acquiring the multifamily property from Abid Zulfiqar. This transaction showcases the investment potential in the vibrant neighborhood of Hell's Kitchen, Manhattan.
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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93