Atlas Capital Group has paid about $150 million for the 256-unit apartment tower at 360 West 43rd Street in Hell's Kitchen, adding another big-ticket rental building to the neighborhood's busy sales ledger. The 23-story property, built in 2002, sits in a stretch of Midtown West that has drawn steady investor interest this year.
The deal was reported by Crain's New York, which put the price at roughly $150 million. The tower was developed by The Brodsky Organization in 2002, according to New York YIMBY, which described the mixed-use building's 256 residences. Yardi Matrix lists the property's total square footage at 169,994, spread across a mix of studios, one-bedrooms, and two-bedroom/two-bath units.
A Recent Affordable Housing Lottery
The building drew attention last year when a housing lottery opened for 13 of its apartments. The units were set aside for households earning up to 130 percent of the area median income, the report notes. Rents for the lottery apartments were listed at $2,500 a month for five studios, $2,900 for seven one-bedrooms, and $3,800 for a single two-bedroom.
It's not clear from available records whether those income-restricted units remain in place under Atlas Capital's ownership, or what the firm's plans are for the rest of the building. The seller, exact closing terms, and financing details of the $150 million transaction have not been disclosed.
Part Of A Busier Manhattan Market
The purchase lands amid a broader uptick in Manhattan apartment-building sales. Avison Young data reported by The Real Deal shows 53 apartment-building sales below 96th Street in the third quarter, 18 percent more than the same period a year earlier. The median sale price for those deals climbed 12 percent year over year to $8.2 million, while the median cap rate rose to 6.48 percent, up 68 basis points from the third quarter of 2025.
Rents have been climbing alongside sales activity. The outlet's data shows New York City's average asking rent rose 3.8 percent year over year in September, the second-highest increase among major U.S. cities. Citywide multifamily dollar volume hit $4.94 billion in the first half of 2026, a 21 percent jump from a year earlier, and Hoodline previously reported that second-quarter dollar volume alone reached $2.46 billion, up 25 percent year over year, even as the number of transactions slipped 4 percent to 298 deals.
Other Hell's Kitchen And Upper West Side Deals
Atlas Capital's purchase follows a string of large rental-building trades in and around Hell's Kitchen this year. Barings sold Riverbank, the 418-unit tower at 560 West 43rd Street, to JPMorgan for $243.5 million, a recent Hoodline report found, a sale that worked out to about $627 per square foot across 388,073 square feet. On the Upper West Side, Carmel Partners acquired MetLife's 49 percent interest in a five-building, 710-unit rental portfolio for $241.3 million, a deal that valued the full portfolio at roughly $485 million, according to the same report.
Atlas Capital itself has been active on West 43rd Street before. The firm, led by Jeff Goldberger and Andy Cohen, previously bought the 14-story, fully occupied building at 311-319 W. 43rd St. from Zubary Associates for $62.4 million, as reported by Bisnow. The latest purchase at 360 West 43rd Street extends that footprint, placing another sizable rental property in the firm's Hell's Kitchen portfolio as the neighborhood continues to attract institutional buyers.
