Investment Sales
Atlas Capital Buys 256-Unit Hell's Kitchen Tower for Reported $150M
Atlas Capital Group acquired a 23-story residential tower at 360 West 43rd Street in Midtown Manhattan for a reported price of $150 million.
By OMI Desk ·
The Brief - Atlas Capital Group purchased the 256-unit residential asset located at 360 West 43rd Street in Manhattan's Hell's Kitchen neighborhood. - Media reports indicate the transaction closed for approximately $150 million, which breaks down to about $586,000 per residential apartment. - The 23-story property features roughly 250,000 square feet of total building space, including 13,000 square feet allocated for commercial use.
Atlas Capital Group acquired the 256-unit multifamily property located at 360 West 43rd Street in Midtown Manhattan's Hell's Kitchen neighborhood for a reported price of approximately $150 million. The major real estate transaction places a prominent 23-story residential asset under new ownership in one of Manhattan's densely populated submarkets.
What are the financial metrics of the transaction?
While buyer Atlas Capital Group did not publicly disclose the official purchase price, reporting by Crain's New York Business cited the transaction cost at approximately $150 million. Based on that price tag, the transfer evaluates the residential tower at roughly $586,000 per apartment unit. The transaction metrics highlight the persistent capital interest in large-scale residential assets located within Midtown Manhattan.
What key features define the property?
The mid-rise physical structure spans approximately 250,000 gross square feet across 23 vertical stories. Beyond its primary layout of 256 rental apartments, the asset encompasses 13,000 square feet of commercial space situated within the building envelope.
| Property and Financial Metric | Confirmed or Reported Detail | | --- | --- | | Property Address | 360 West 43rd Street, Manhattan | | Total Residential Units | 256 rental apartments | | Total Building Height | 23 stories | | Gross Building Area | Approximately 250,000 square feet | | Commercial Space Area | 13,000 square feet | | Reported Purchase Price | Approximately $150,000,000 | | Per-Unit Valuation | Approximately $586,000 |
Who are the primary participants involved in the deal?
Atlas Capital Group emerged as the buyer acquiring the residential asset. The underlying source material does not identify the seller of the asset, nor does it disclose any legal counsel, advisory firms, or brokerage teams involved in facilitating the ownership transfer.
What reporting limits remain regarding the acquisition?
Because Atlas Capital Group withheld official financial terms, the primary transaction value relies entirely on media coverage from Crain's New York Business as cited by Connect CRE. The provided reporting leaves out information regarding any underlying debt financing, mortgage lenders, equity partners, or potential future capital improvements for the building complex. Readers seeking direct source updates should consult the initial reporting published by Connect CRE for continuing coverage context.