Jonathan Wiener's Chestnut Holdings Of New York Acquires Multifamily Property In Hell's Kitchen For $5.4M

A multifamily property located at 698 Ninth Avenue in Hell’s Kitchen has been sold for $5,400,000. The property has a building square footage (BSF) of 17,518 and a price per BSF of $308. The total square footage of the property is 13,793, with a price per square foot (PPSF) of $391. It consists of 13 units, with a price per unit (PPU) of $415,384. The property has a floor area ratio (FAR) of 4.74 and falls under tax class 2. The lot size is 2,910 square feet and the lot dimensions are 29.83 feet by 100 feet. The property previously underwent alteration permits on August 11, 2016.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,400,000
• BSF: 17,518
• PPBSF: $308
• SF: 13,793
• PPSF: $391
• Units: 13
• PPU: $415,384
• FAR: 4.74
• Tax Class: 2
• Lot Size: 2,910
• Permits: Alteration 2 (08/11/2016)
• Lot Dimensions: 29.83 ft x 100 ft

The buyer of the property was Jonathan Wiener, representing Chestnut Holdings of New York. The seller was the Estate of Carl Mazzella.