Michael Chen Acquires SFR In Hell's Kitchen For $7.5M
416 West 51st Street, Manhattan, New York, NY, USA
$7,500,000
$1,071/SF
Building Size
6,997 SF
Asset Type
Single Family Residence
Closing
Dec 17, 2020
AI
The property involved in the transaction is a single-family residence (SFR) located at 416 West 51 Street in Hell's Kitchen. The property is zoned as R8 and falls under the Special Clinton district. The transaction took place on December 18, 2020.
Summary of transaction details:
- Property Type: Single-Family Residence (SFR)
- Transaction Amount: $7,500,000
- Address: 416 West 51 Street
- Market: Hell's Kitchen
- Zoning: R8
- District: Special Clinton
The buyer of the property is Michael Chen, while the seller is Matthew Hansen.
The property has a building square footage (BSF) of 10,544, with a price per BSF (PPBSF) of $711. The total square footage (SF) of the property is 6,997, with a price per square foot (PPSF) of $1,072.
Players
New York Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93