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Insite Real Estate Acquires Hell's Kitchen Development Site From Madanes Family For $25.5M

609-615 West 46th Street
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This Development Site property located in NY was sold for $25,500,000 over 1 year ago. The brokers of the deal were Justin Michael Natalizio and Nicholas Mulligan

The development site located at 609-615 West 46th St in Hell's Kitchen has been sold in a closed transaction. The property, which spans approximately 9,775 square feet, was involved in a deal between the seller, Madanes Family, and the buyer, Insite Real Estate. The transaction was facilitated by brokers Eric Anton, Justin Natalizio, and Nicholas Mulligan of Anton Group NYC. The sale price for the property was $25,500,000, translating to a price per square foot of $2,609. The building's square footage (BSF) is 95,560, with a price per buildable square foot (PPBSF) of $267.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $25,500,000
  • Address: 609-615 West 46th St
  • Market: Hell's Kitchen

Insite Real Estate emerged as the buyer in this transaction, acquiring the development site from the Madanes Family. Represented by their brokers, Eric Anton, Justin Natalizio, and Nicholas Mulligan of Anton Group NYC, Insite Real Estate successfully closed the deal for the property. The transaction signifies a significant investment in the Hell's Kitchen market, highlighting the ongoing development activities in the area.

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Deals
  • Location
    609 West 46th Street, New York City, New York 10036, United States609 West 46th Street, New York City, New York 10036, United States
  • Sale Price
    $25,500,000$25,500,000
    $2,608 PPSF$2,608 PPSF
  • Area
    9,775 SF9,775 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Nicholas Mulligan

Nicholas Mulligan

Deals3
Sold$54.9M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Eric Anton, Justin Natalizio & Nicholas Mulligan DATE: 10/06/2022 ADDRESS: 609-615 West 46th St MARKET: Hell's Kitchen ASSET TYPE: Development Site BUYER: Insite Real Estate SELLER: Madanes Family BROKERS: Eric Anton (@AntonGroup), Justin Natalizio (@Sir_Natalizio) & Nicholas Mulligan (@Nick__Mully24) - Anton Group NYC (@AntonGroupNYC) SALE PRICE: $25,500,000 BSF: 95,560 ~ PPBSF: $267 SF: 9,775 ~ PPSF: $2,609

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609-615 West 46th Street

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