Top 5 NYC Multifamily Sales

PropertyShark compiled the top 5 multifamily sales for August 2018 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
  1. 776 Avenue of the Americas, Manhattan
    The Capitol at Chelsea

    Sale Price: $363,508,320

Dubbed The Capitol at Chelsea, this community offers 286 studio, one- and two-bedroom floorplans, ranging from 403 to 1,231 square feet. Constructed in 2000, the property has a 98.4 percent occupancy rate as of November, according to Yardi Matrix. The last recorded owner was JP Morgan Asset Management, which purchased the 37-story property in February 2012 from The Witkoff Group, for $188.1 million. Building features include a fitness center, 85 covered parking spaces, a doorman, private balcony/patios, washer/dryers and a rooftop terrace. The Capitol at Chelsea is situated within a quarter mile of three subway stations and also provides 58,000 square feet of retail and 11,500 square feet of office space from floors one through four. 

  1. 838 West End Ave., Manhattan
    Sale Price: $64,500,000

Constructed in 1931, this 12-story building comprises a total of 108,377 square feet. Floorplans are offered in studio, one-, two- and three-bedrooms, ranging from 950 to 2,000 square feet across 69 units. According to Yardi Matrix, the property was 97.1 percent occupied as of November, and was purchased by Akelius Real Estate Management from Thor Equities. Community features include controlled access, laundry facilities, a doorman and private balcony/patios. The 1 subway line is located 0.12 miles away at the corner of Broadway and 103rd Street.

  1. 426 E. 14th St., Manhattan
    Sale Price: $28,250,000

This walk-up apartment building is estimated to have been built in 1930 and last upgraded in 1986. The property offers 31,875 square feet of space across five stories, situated on an 8,647-square-foot lot. Located on the ground level is Big Apple Barbers, Precise Brows, Sar Engineering Inc., Soleil NYC Design and 99 Cents Famous Pizza. The closest means of public transportation is the L subway line at the corner of First Avenue and 14th Street, 0.07 miles away, as well as the M14A and D bus routes at the corner of East 14th Street and Avenue A.

  1. 222 E. 56th St., Manhattan
    Sale Price: $25,000,000

Situated 0.14 miles from the E, M and 6 subway lines at the corner of Third Avenue and 53rd Street, this five-story property sits on a 7,532-square-foot lot in Central Midtown. Estimated to have been constructed in 1910, the asset was last upgraded in 1980 and features a total of 30,635 square feet of residential space. The community offers 60 units at an average size of 511 square feet. 

  1. 1347 Third Ave., Manhattan
    Sale Price: $23,019,998

This walk-up property features 12 apartments averaging 373 square feet across two stories. On the ground level there are two commercial units, offering 1,875 square feet of retail space currently leased to McCabe’s Wine & Spirits. Located in the neighborhood of Lenox Hill, this building offers convenient access to the 6 subway line at the corner of Lexington Avenue and 77th Street.