At a glance
- Atlas did not disclose the price; the figure comes from a Crain's New York Business report cited by Connect CRE.
- The 23-story building spans roughly 250,000 square feet and includes 256 rental apartments, 13,000 square feet of ground-floor commercial space and a parking garage.
- Family offices and fund selectors marking Manhattan apartment positions now have a recent comp: a 2002-vintage building with ground-floor retail and a parking garage at about $586,000 per unit, or $600 per square foot.
Atlas Capital Group acquired 360 W. 43rd St., a 256-unit apartment building in Hell's Kitchen, in a trade Crain's New York Business reported at approximately $150 million, or about $586,000 per unit. Atlas did not disclose the price; the figure comes from a Crain's New York Business report cited by Connect CRE.
The 23-story building spans roughly 250,000 square feet and includes 256 rental apartments, 13,000 square feet of ground-floor commercial space and a parking garage. The Brodsky Organization developed it in 2002. Ivan Hakimian of HPNY brokered the transaction.
Family offices and fund selectors marking Manhattan apartment positions now have a recent comp: a 2002-vintage building with ground-floor retail and a parking garage at about $586,000 per unit, or $600 per square foot.
Atlas, a New York-based investment, development and management firm, also recently acquired 250 E. Houston St., a 130-unit Class A rental building in the East Village. It is co-developing 80 Clarkson St., a luxury condominium project, and 570 Washington St., a senior affordable housing development, both in the West Village, plus 200 W. 97th St., a residential tower on the Upper West Side. The two Manhattan rental acquisitions total 386 units.
Reported by the Deals desk from Connect CRE and Crain's New York Business (as cited by Connect CRE). Published . Corrections