Stenson of Brax Realty brokers $6.6 million sale of 9,390 s/f building in Hell’s Kitchen

May 07, 2019 - Front Section

Alan Stenson, Brax Realty

Manhattan, NY Alan Stenson, senior director at Brax Realty, has closed the sale of a 9,390 s/f building in Hell’s Kitchen. The property, 439 West 46th St. is  located between 9th and 10th Aves., sold for $6.6 million. Stenson represented the seller, Peter Gonedes, in this transaction and the purchaser was a private international investor.

The building was comprised of 20 apartments and had an additional 6,527 s/f of available air rights. All 20 apartments in the building are studios, and 14 are rent-stabilized. The property sold for $702 per s/f and a cap rate of 3.7%.

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