Kings Capital bought a 39-unit residential elevator building at 357-365 West 48th Street in Hell’s Kitchen from Bank of China for $12.5 million. Vacant since Covid, the building was previously used for corporate housing. Kings Capital plans to renovate it into 39 Class A apartments. The property has 35,840 square feet of built space and 3,601 square feet of air rights, totaling 39,424 square feet. The sale price per built square foot is $348. The deal was brokered by CBRE’s Daniel Kaplan. The property has a market value of $10.5 million.
357-365 West 48th Street
