Shimmie Horn Sells Shelter In Hell's Kitchen For $25.2M
SOLD
$25,200,000
New York
See Similar DealsOther35,850 SF
Sold 07/09/2021
SOLD
Shimmie Horn Sells Shelter In Hell's Kitchen For $25.2M
427 West 52nd Street, Manhattan, New York, NY, USA
See Similar DealsOther35,850 SF
Sold 07/09/2021
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$702
Total Square Footage:35,850 SF
Transaction Type:Sale
Located at 427 West 52nd Street in Hell's Kitchen, the property involved in this transaction is a shelter with an R8 zoning. The sale took place on 07/09/2021.
Summary of transaction details
- Property Type: Shelter
- Transaction Amount: $25,200,000
- Address: 427 West 52nd Street
- Market: Hell's Kitchen
- Zoning: R8
The seller of the property was Triumph Hotels, represented by Shimmie Horn. The buyer's identity was not disclosed. The sale price for the property was $25,200,000, with a total area of 35,850 square feet and a price per square foot of $702. The previous sale of the property occurred in June 2018 for $16,000,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,344,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$89,530.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$119,460.86
Annual Debt Service$1,433,530.28
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