facebook
Traded Co logo
Submit

Michael Chen Acquires SFR In Hell's Kitchen For $7.5M

Property Image
SOLD
$7,500,000

New York

See Similar Deals
Single Family Residence6,997 SF
Sold 12/18/2020
the dealdetailscomps
Property Image
SOLD

Michael Chen Acquires SFR In Hell's Kitchen For $7.5M

416 West 51st Street, Manhattan, New York, NY, USA

See Similar Deals
Single Family Residence6,997 SF
Sold 12/18/2020

Summary

NEW YORK
Asset Type:Single Family Residence
Price Per Square Foot:$1,071
Total Square Footage:6,997 SF
Transaction Type:Sale

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.

Details

SOLD
IMAGE: 12/18/2020 ADDRESS: 416 West 51 Street MARKET: Hell's Kitchen ASSET TYPE: SFR ~ ZONING: R8 DISTRICT: Special Clinton BUYER: Michael Chen SELLER: Matthew Hansen PRICE: $7,500,000 BSF: 10,544 ~ PPBSF: $711 SF: 6,997 ~ PPSF: $1,072

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$400,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92