Duc Huang Buys Hells Kitchen Mixed-Use Building for $37M
Sol Kurtz and Rubin Schron of Cammeby’s International have sold a mixed-use building in Hell’s Kitchen for $36.5 million to a private family office Duc Huang.
Located at 159-161 West 54th Street, the 15-story property features 42 residential apartments, five commercial spaces, and 11 office spaces. The 85,309-square feet building was constructed in 1923.
Rosewood Realty’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the buyer and the sellers. “Also the property traded in the most tenuous real estate environment in the past 30 years,” said Khakshoor. “The fact that we were able to achieve a sub 4% cap rate goes to show that there will always be a strong demand for prime Manhattan elevator buildings.”
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.