Duc Huang Invests $37M in Hells Kitchen Mixed-Use Building

Sol Kurtz and Rubin Schron of Cammeby’s International have sold a mixed-use building in Hell’s Kitchen, New York for $36.5 million to a private family office Duc Huang. The 85,309-square feet property located at 159-161 West 54th Street features 42 residential apartments, five commercial spaces and 11 office spaces constructed in 1923. Rosewood Realty’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both the buyer and the sellers during this transaction which took place amidst one of the most tenuous real estate environments over the past 30 years. According to Khakshoor “the fact that we were able to achieve a sub 4% cap rate goes to show that there will always be strong demand for prime Manhattan elevator buildings.”