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Brokerage
Posted: April 25, 2023
Friedman-Roth Realty Services broker the sale of 405 W 45th St.
Manhattan, NY Jim Mann and Wells Newell of Friedman-Roth Realty Services have brokered the sale of 405 West 45th St. The building has 30 apartments with 20 free market and 10 rent stabilized units. The deal closed at a price of $8.5 million or $400 per s/f, with an approximate 6% cap rate and a gross rent multiple of 10. The seller purchased the property in 1998 and the purchaser is a long time client of the brokers.
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