Venmel 8 LLC Acquires Co-op In Hudson Yards For $8.6M
Hudson Yard Event & Studio Rental, 450 West 31st Street, New York, NY, USA
$8,600,000
$2,150/SF
Building Size
4,000 SF
Asset Type
Other
Closing
Sep 29, 2021
AI
The property involved in this closed transaction is a co-op located at 450 West 31st Street in the Hudson Yards market. The property is situated in a C6-4, HY zoning area. The sale took place on September 30, 2021, with the buyer being Venmel 8 LLC and the seller being Enterprise Asset Management. The transaction was finalized at a sale price of $8,600,000. The property has a floor area ratio (FAR) of 8.07 and falls under tax class 4. Its lot size spans 13,900 square feet, with dimensions of 133.33 ft x 108.67 ft. An alteration permit was obtained on July 6, 2020.
Summary of transaction details
- Property Type: Co-op
- Transaction Amount: $8,600,000
- Market: Hudson Yards
- Zoning: C6-4, HY
- Buyer: Venmel 8 LLC
- Seller: Enterprise Asset Management
- Floor Area Ratio (FAR): 8.07
- Tax Class: 4
- Lot Size: 13,900 sqft
- Permits: Alteration 2 (07/06/2020)
- Lot Dimension: 133.33 ft x 108.67 ft
In this transaction, Venmel 8 LLC served as the buyer, and Enterprise Asset Management represented the seller.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.84%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93