Empire Capital Holdings Acquires Multi Family Property On West 54th Street For $100M

The multi-family property located at 550 West 54th Street in Midtown has been sold in a closed transaction. The property spans 144,000 square feet and features a total of 162 units. The transaction took place on December 16, 2022, with a sale price of $100,000,000. This equates to a price per unit of $617,284 and a price per square foot of $694.

Summary of transaction details

• Property Type: Multi Family
• Transaction Amount: $100,000,000
• Units: 162
• Price per Unit: $617,284
• Square Footage: 144,000
• Price per Square Foot: $694
• Address: 550 West 54th Street
• Market: Midtown

This transaction was facilitated by the following brokers from Cushman & Wakefield: Michael (Mike) Collins, Joshua (Josh) King, Adam Spies, Marcella Fasulo, Douglas (Doug) Harmon, and Adam Doneger representing Empire Capital Holdings as the buyer and Invesco as the seller.