Top 10 NYC Multifamily Sales in January 2016
- Feb 18, 2016
The data is in!
New York City multifamily real estate rocketed into 2016, with numerous eight-figure-plus sales. Manhattan, Brooklyn and the Bronx all jockeyed for the spotlight. Check out PropertyShark’s list of the top 10 most expensive multifamily deals recorded in NYC in January:
10. 4002-4004 & 4014-4016 Carpenter Ave., The Bronx
Sale Price: $15,900,000
Buyer: Nysandy12 Cbp5 LLC
Seller: Ecp Carpenter LLC
The Real Deal reports that these two properties are part of a a much larger portfolio acquisition. In a partnership between Related and the New York City pension funds, a total of 737 Bronx apartments are being exchanged in the Bronx for part cash, new financing and modification of existing debt.
9. 100 & 102 Forsyth St., Manhattan
Sale Price: $16,000,000
Buyer: 100 Forsyth, LLC
Seller: 100 Forsyth Associates, LLC And Forsyth Blue, LLC
This pair of Lower East Side walk-up apartment buildings in the Bowery combines 37 rental units and two commercial units. Both buildings are five stories high and were purchased by 100 Forsyth Associates LLC in 2001.
8. 4128 & 4138 Carpenter Ave., The Bronx
Sale Price: $16,400,000
Buyer: Nysandy12 Cbp7 Llc C/O The Related Cos.
Seller: Ecp Carpenter LLC
This is a pair of twin multifamily apartment buildings in the Bronx, each holding 52 residential units, and covering just under 12,000 square feet.
7. 532-534 and 536 W. 143rd St., Manhattan
Sale Price: $16,885,000
Buyer: Rh 532-536 West 143 Street LLC
Seller: 532-36 West 143RD Street LLC
These two buildings in Hamilton Heights – West Harlem give the new owner a combined 29 residential rental units. It’s one of New York City’s most walkable and transport-friendly neighborhoods, a feature that’s proving to be equally desirable for investors and tenants.
6. 364 Lincoln Pl., Brooklyn
Sale Price: $23,500,000
Buyer: 440W47 Stone LLC
Seller: Westside 47-48 Associates L P.
Another Crown Heights apartment building to make the list for January. The building is located close to Prospect Park and has 54 residential units.
5. 2492-2494 Seventh Ave., 200 W. 145th St. and 219-221 W. 145th St., Manhattan
Sale Price: $26,950,000
Buyer: Rh 200-219 West 145 Street LLC
Seller: 200-210 West 145TH Street LLC And 215-219 West 145TH Street LLC
This three-part deal comprising 2492-2494 Seventh Ave., 200 W. 145th St., and 219-221 W. 145th St. marks another significant Harlem transaction to close in January, perhaps setting a new pace for the rest of 2016.
4. 326 E. 82nd St., Manhattan
Sale Price: $27,000,000
Buyer: 477 Third LLC
Seller: Wmf 322-326 E 82ND LLC
This was sold by the Maidman family after 40 years of ownership. The Real Deal reports that the French investor acquiring the property utilized a 1031 exchange, with plans to renovate and upgrade the apartment building.
3. 305-319 McGuinness Blvd., Brooklyn
Sale Price: $31,000,000
Buyer: 305 Mcguinness Investors, LLC
Seller: 305 Mcguinness Blvd LLC
This boutique building known as Loft 305 is a designer loft located in Brooklyn’s exciting Greenpoint neighborhood. It was previously acquired for $13,400,000 in May 2010.
2. 564-570 St. Johns Pl., Brooklyn
Sale Price: $34,000,000
Buyer: 564 St. Johns Partners
Seller: Northside Partners LLC
This former Crown Heights parking garage is currently being transformed into an eight-story rental apartment complex. The new 172-unit design is the work of architect Karl Fischer.
1. 2225 Fifth Ave. and 45 E. 135th St., Manhattan
Sale Price: $200,850,000
Buyer: Riverton Square Housing Development Fund
Seller: 2171-2200 Madison Avenue Holdings LLC
By far the priciest multifamily transaction recorded so far in 2016, this two-part deal entailed two parcels at 2225 Fifth Ave. and 45 E. 135th St. The highly prized East Harlem complex includes more than 1,100 residential apartments. Walk Score ranks this walker and rider’s paradise as one of the best connected.