Permits & development · Owners & management · Deals & development · 11/06/2026, 3:13 PM
Atlas Capital Buys 256-Unit Hell's Kitchen Rental for $142.5M
Atlas Capital Group bought 360 West 43rd Street, a 256-unit building between Eighth and Ninth avenues, for $142.5 million, according to a source. The seller was a Brodsky Organization entity that developed the 250,000-square-foot property in 2002. Atlas also bought 250 East Houston Street for $112 million earlier in 2026.
Reported by Commercial ObserverRead the original ↗
What happened
Atlas Capital Group has bought 360 West 43rd Street, a 256-unit rental building in Hell's Kitchen, Manhattan, from an entity of the Brodsky Organization. The building sits on West 43rd Street between Eighth and Ninth avenues, two blocks west of Times Square. Atlas announced the off-market deal on Friday, 11/06/2026.
The price was $142.5 million, according to a source cited by Commercial Observer. The Real Deal first reported about $150 million, then corrected its story to $142.5 million. Crain's New York ran a headline of about $150 million, but its article text also gave $142.5 million. Atlas declined to give further deal details, and Brodsky did not respond to requests for comment.
The 23-story building covers 250,000 square feet. It includes 13,000 square feet of ground-floor commercial space and a parking garage. The Real Deal reported that Mattress Firm and TD Bank occupy the retail space and that the building has a gym and roof deck. A Brodsky entity, 42/9 Residential, acquired the site and developed the building in 2002, according to city records cited by Commercial Observer.
StreetEasy shows no available units. Commercial Observer reported that the most recent signed lease there was for a studio at $3,795 per month. Atlas said the purchase adds to a multifamily portfolio that includes 15 Park Row in Lower Manhattan, 80 DeKalb in Downtown Brooklyn and the Denizen in Bushwick. At the start of 2026, Atlas also bought 250 East Houston Street, a 130-unit building in the East Village, for $112 million.
Key facts
- Address
- 360 West 43rd Street, Hell's Kitchen, Manhattan (between Eighth and Ninth avenues)
- Units
- 256 apartments
- Price
- $142.5 million (The Real Deal and Crain's headlines first cited about $150 million)
- Buyer
- Atlas Capital Group
- Seller
- An entity of the Brodsky Organization
- Building
- 23 stories, 250,000 square feet, built in 2002
- Commercial space
- 13,000 square feet of ground-floor retail plus a parking garage
- Recent rent
- Most recent signed lease was a $3,795-per-month studio, per StreetEasy
What it means
Tenants and voucher holders
A change of owner does not by itself end a current lease. Tenants should note who the new managing agent is and keep copies of their lease and rent payments. With no listed vacancies and a recent studio at $3,795, this building is not a likely option for most voucher holders.
Landlords
The sale shows investors are still paying large sums for fully leased Manhattan rentals. The reports do not say how the deal was financed or what rents Atlas plans to charge.
Buyers and owners
The deal was off-market, so pricing came only from unnamed sources, and outlets first reported different numbers. Treat early sale prices in news reports with care until deed records are filed.
The highlights
- The seller was an entity of the Brodsky Organization, in an off-market deal.
- The 23-story building has 13,000 sq ft of ground-floor retail and a garage.
- The latest lease was a $3,795-per-month studio, according to StreetEasy.
Why it matters Landlords
The sale is a fresh price point for large Manhattan rental buildings and shows investors still buying multifamily near Midtown.
Not known yet
- Whether any apartments are rent-stabilized or carry affordability rules
- Who will manage the building and whether staff or management will change
- Whether Atlas plans renovations or rent changes
- How the purchase was financed
Background
In New York City, when a rental building is sold, existing leases generally stay in force and the new owner takes over the landlord's obligations under them. For rent-stabilized apartments, the stabilization rules stay with the unit after a sale, and the new owner must follow them. Sale records, including the deed and price, usually appear in the city's public property records after the deal is filed.
Also drawn from: Atlas Capital snaps up Hell’s Kitchen multifamily for $150M (The Real Deal · New York) · Atlas Capital Group pays about $150M for Hell’s Kitchen apartment tower (Crain's New York)
Summary written by Bulwark from Commercial Observer’s reporting. The original story is at commercialobserver.com. This is general information, not legal advice.
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