Stenson of Brax Realty sells two Hell’s Kitchen buildings for $10.55 million

 

 

Manhattan, NY Alan Stenson, senior director of locally-based investment sales brokerage firm Brax Realty has completed the sale of two Hell’s Kitchen buildings in separate transactions.

The first sale was a 9,390 s/f apartment building located at 437 West 46^th St. which sold for $7 million in an all-cash transaction. It was located between 9^th Ave. and 10^th Ave. Stenson represented the seller and also procured the purchaser, an international buyer. The property consists of 20 apartments and was the first time the property traded hands in over 35+ years. The purchase price equated to a price per s/f of $756 and $355,000 per unit.

The second transaction was 453 West 48^th St. located between 9^th Ave. and 10^th Ave. The property is 19 ft. wide and contains 11 apartments with 6,135 s/f. The property had additional air rights of 4,995 s/f and the sale price equated to $578 on the existing price per s/f. The seller was a long-term private owner and the purchaser was an international buyer.