Atlas Capital Group purchased 360 West 43rd Street, a 256-unit apartment building in Manhattan's Hell's Kitchen neighborhood, for $142.5 million. The seller was an entity of the Brodsky Organization, which had acquired and developed the property in 2002.
The 23-story building sits between Eighth and Ninth avenues, two blocks west of Times Square. It spans 250,000 square feet and includes 13,000 square feet of ground-floor commercial space and a parking garage. Ivan Hakimian of HPNY brokered the off-market transaction but declined to comment.
The building currently has no available units. The most recent lease signed was for a $3,795-per-month studio in August.
Atlas Capital's purchase adds to its multifamily portfolio, which includes 15 Park Row in Lower Manhattan, 80 DeKalb in Downtown Brooklyn, and the Denizen in Bushwick. In January, Atlas bought 250 East Houston Street, a 130-unit mixed-use building in the East Village, for $112 million from Dermot Company and Rockwood Capital. Atlas is co-developing luxury condominiums at 80 Clarkson Street in the West Village and senior affordable housing at 570 Washington Street, and entered a partnership to develop a residential tower at 200 West 97th Street on the Upper West Side.