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
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.
Players
New York Retail Market Snapshot
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