Assaf Ran Acquires Multifamily Property In Hells Kitchen For $4M

A multifamily property located at 534 West 47th Street in Hells Kitchen has been sold for a price of $4,000,000. The property consists of 15 units, with 8 units designated for multifamily and 7 units for residential purposes. The building has a total square footage of 15,110, with a price per square foot of $264. The sale also included a land area of 9,914 square feet, with a price per square foot of $403.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,000,000
• Address: 534 West 47th Street, Hells Kitchen
• Market: Hells Kitchen
• Buyer: Assaf Ran
• Seller: Michael Columb
• Broker: Dimitri P. Venekas – Cosmos Capital Group
• Building Square Footage: 15,110
• Price per Square Foot: $264
• Land Area: 9,914 square feet
• Price per Square Foot (Land): $403
• Number of Units: 15 (8 FM, 7 RS)
• Price per Unit: $266,666

The transaction was facilitated by Dimitri P. Venekas from Cosmos Capital Group, who represented the buyer and seller in the deal. Assaf Ran acquired the property from Michael Columb for the aforementioned price. The sale marks an important milestone in the Hells Kitchen market, showing continued growth and investment opportunities in the multifamily sector.