Bay Ridge Automotive Management Acquires Retail Property In Hell's Kitchen For $26M
547 West 47th Street, New York City, New York 10036, United States
$26,000,000
$218/SF
Building Size
119,279 SF
Asset Type
Retail
Closing
Apr 18, 2022
About this deal
AI
The sale of a retail property in Hell’s Kitchen has been finalized at 547 West 47th Street. The property, with a total area of 119,279 square feet, was sold for $26,000,000, resulting in a price per square foot of $217. The transaction occurred on April 19, 2022, with Bay Ridge Automotive Management purchasing the property from CBSK Ironstate.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $26,000,000
- Square Footage: 119,279
- Address: 547 West 47th Street
- Market: Hell’s Kitchen
Bay Ridge Automotive Management emerged as the buyer in this transaction, while CBSK Ironstate acted as the seller. Scott Shnay captured an image of the property.
On the Map
$26,000,000
$218/SF
Retail
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Players
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Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93