Top 5 NYC Multifamily Sales
- Feb 21, 2018
- 990 Avenue of the Americas, Manhattan
Sale Price: $316,000,000
Dubbed The Vogue, this 320-unit residential tower in the Garment District was purchased by the Vanbarton Group from 990 Avamericas Associates. According to Yardi Matrix, the deal comprised both the 21-story residential portion and 72,000 square feet of retail and office space on the first four floors. The sale was subject to a $165 million loan held by Brookfield Asset Management. The building features a mix of studio, one- and two-bedroom units ranging from 450 to 950 square feet. Managed by Greystar, the asset was constructed in 1986 and was 99.1 percent occupied as of January 2018. Additional features include laundry facilities, 120 covered parking spaces, a doorman, private balcony/patios, a rooftop terrace, high ceilings and hardwood floors.
- 68-70 Thompson St., Manhattan
Sale Price: $62,000,000
Situated in Manhattan’s Sullivan-Thompson Historic District, this six-story property is within close proximity to the C/E subway lines at Sixth Avenue/Spring Street and the M55 bus route at Avenue of the Americas/Broome Street. Sold along with 72-74 Thompson St. to Centurion Realty, the building comprises 16,749 square feet broken up among 39 residential units totaling 15,549 square feet and 1,200 square feet of retail space. Located in SoHo, the asset offers two commercial units and is estimated to have been built in 1901, with renovations last taking place in 2013.
- 10 Rutgers St., Manhattan
Sale Price: $59,000,000
Comprising 83 units across eight stories, this 2001-built property dubbed The Crossroads was 100 percent occupied as of January 2018, according to Yardi Matrix. The building features studio, one- and two-bedroom floorplans ranging from 435 to 950 square feet. Arbor Realty Trust acquired the asset from The Hudson Cos. and the sale was subject to a $40.8 million loan held by Raymond James Bank. Property features include a fitness center, doorman, laundry facilities, private balcony/patios and 3,150 square feet of first floor retail space.
- 19 W. 55th St., Manhattan
Sale Price: $50,000,000
Offering convenient access to the F subway line at Sixth Avenue/56th Street and the M1 to M5 bus routes at Fifth Avenue/56th Street in Central Midtown, this nine-story elevator apartment building features 29 residential units. Built in 1920, the 31,690-square-foot property also includes two commercial units totaling 3,000 square feet of retail space.
- 14 W. 107th St., Manhattan
Sale Price: $27,600,000
This fully affordable Manhattan Valley property features 89 studio, one- and two-bedroom units with an average unit size of 666 square feet. Built in 1910 and last altered in 1984, the six-story building is situated on a 12,110-square-foot lot and encompasses 68,200 square feet of space.