Ron Abudi Acquires Multifamily Building On West 48th St. For $4.55M

The multifamily property located at 515 W. 48th St. in Clinton, Hell’s Kitchen was recently sold for a price of $4,550,000. The property consists of 20 units, with a price per unit of $227,500. The total square footage of the property is 9,790, resulting in a price per square foot of $464.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,550,000
• Units: 20
• Price per Unit: $227,500
• Square Footage: 9,790
• Price per Square Foot: $464
• Address: 515 W. 48th St., Clinton, Hell’s Kitchen

The buyer of the property is Ron Abudi, while the seller is Verco Properties. The deal was facilitated by the brokers Adam Lobel, Zachary Ziskin, Justin Zeitchik, and Cooper Beitman from Investment Property Realty Group (IPRG). It is worth noting that the building is 50% free market. The buyer successfully closed the deal within 45 days of contract signing.