Top 5 NYC Multifamily Sales

PropertyShark compiled the top 5 multifamily sales for February 2018 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
Source: PropertyShark, a Yardi Systems Inc. company
  1. 670 Pacific St., Brooklyn
    670 Pacific St., Manhattan

    Sale Price: $69,200,000

Completed in 2014 and located in Prospect Heights, this eight-story, 83,828-square-foot elevator apartment building features 86 residential units at an average size of 975 square feet. The property, which also features one commercial unit, is located within walking distance from the 2/3 subway lines at Flatbush Avenue and Bergen Street.

  1. 1680 Madison Ave., Manhattan
    Sale Price: $57,000,000

Totaling 130,000 square feet, this 1982-built, seven-story property is located in East Harlem. The 135 residential units average 963 square feet. The M1 bus route at Madison Avenue and East 111th Street and the 6 subway line at Lexington Avenue and 110th Street are located within close proximity from the asset.

  1. 377 E. 33rd St., Manhattan
    Sale Price: $49,451,008

Dubbed The Lanthian, this 209-unit property located in the submarket of Kips Bay was constructed in 1998 and was 96.2 percent occupied as of February 2018, according to Yardi Matrix. The unit mix includes studio, one-, two-, three- and four-bedroom layouts ranging from 480 to 1,844 square feet. The building comprises 213,549 square feet, including a total of 18,000 square feet of first floor retail space. Community features include a fitness center, business center, community room, playground, spa, laundry facilities, 45 covered parking spaces, media room, doorman, private balcony/patios, washer/dryers, fireplaces, hardwood floors and views of the East River. SPI Holdings and Dermot Co. purchased the property from AvalonBay Communities back in February 2016 for $173 million. According to Yardi Matrix, Dermot Co. left the deal when SPI Holdings bought its stake for the $49 million sale price in February 2018.

  1. 1930 Amsterdam Ave., Manhattan
    Sale Price: $43,000,000

Towering 15 stories in Washington Heights, the property was last renovated in 2005. Comprising 181,111 square feet, this building features 183 at an average size of 979 square feet. The asset also includes 3,000 square feet of office space. The C subway line and M101 bus routes are located within close proximity to the community.

  1. 31 Ocean Pkwy. #83, Brooklyn
    Sale Price: $33,700,000

This six-story, 90,900-square-foot property was constructed in 1929 and last altered in 2010. The property offers 84 residential units averaging 1,095 square feet per unit. Situated in the neighborhood of Windsor Terrace, the building was constructed on a 27,099-square-foot lot.