Top 5 NYC Multifamily Sales

PropertyShark compiled the top 5 multifamily sales recorded in March 2019 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
  1. 42-12 28th St., Queens
    42-12 28th St., Queens

    Sale Price: $335,000,000

Dubbed Tower 28, the Long Island City community offers 461 studio, one-, two-, three- and four-bedroom floorplans ranging from 427 to 1,644 square feet. Completed in 2018, the building is 98 percent occupied as of February, according to Yardi Matrix. In March, the property became subject to a $165 million loan held by Morgan Stanley. The last known owner was Heatherwood Communities, according to Yardi Matrix. Back in May 2015, the property received a $154 million construction loan from PNC Bank. The community features 5,878 square feet of retail on the ground level, parking on the second floor and amenities on the third. Features include a rooftop terrace, pool, fitness center, business center, clubhouse, community room, children’s playroom and media room.

  1. 333 Schermerhorn St., Brooklyn
    Sale Price: $253,000,000

The Hub, located in Downtown Brooklyn, offers 750 units across 53 stories. Of the total, 150 apartments are designated as affordable. Completed in 2018, the building is 84.9 percent occupied, according to Yardi Matrix. Property features include a fitness center, business center, clubhouse, playground, children’s playroom, swimming pool, media room and 121 parking spaces. Floorplans are offered in studio, one- and two-bedroom units ranging from 405 to 795 square feet. The building also comprises 34,823 square feet of retail on the ground floor.

  1. 5 E. 51st St., Manhattan
    Sale Price: $44,000,000

Located in Central Midtown, this property was built in 1930 and comprises 14,708 square feet across six stories. The building features 9,508 square feet of residential, 2,700 square feet of office and 2,500 square feet of retail. The buyer, Harry Macklowe, plans to build a 1,551-foot-tall skyscraper in its place if approval goes through. Nearby transportation options include the E and M subway lines at the intersection of Fifth Avenue and 53rd Street.

  1. 489 Broadway, Manhattan
    Sale Price: $19,925,772

Featuring eight residential and three commercial units, this building situated on a 2,142-square-foot lot in SoHo was estimated to have been built in 1900 and last altered in 1991. Nearby transit options include the 6 subway line at the corner of Lafayette and Spring Streets, as well as the X27 and X28 bus routes at the intersection of Broadway and Broome Street. The property stands five stories and comprises 10,710 square feet. The asset also includes 2,000 square feet of ground floor retail.

  1. 331 Keap St., Brooklyn
    Sale Price: $15,500,000

Built in 1915, this six-story property is situated on a 5,451-square-foot lot in Williamsburg and totals 21,740 square feet. The walk-up building features 3,623 square feet of retail space on the ground floor, leased to Brooklyn Radio Dispatcher. The J and M subway lines are easily accessible at the corner of Hooper Street and Broadway, as well as the B60 bus route at the intersection of Fifth and Keap Street.