Top 5 NYC Multifamily Sales—March 2021
- Apr 23, 2021
- 1414 York Ave., Manhattan
Sale Price: $18,100,000
Liberty Enterprises sold the 17,800-square-foot Upper East Side property to private bilingual school Lycée Français de New York. The building is adjacent to the school’s main campus at 505 E. 75th St. The newly acquired property spans across seven stories and includes 16 residential units and five commercial units. Developed in 1910, it underwent upgrades in recent years and it previously changed hands in 2000.
- 70 Prospect Park West, Brooklyn
Sale Price: $15,000,000
The six-story Park Slope asset changed hands in the second part of March—Greenbrook Partners acquired the property with the help of a $12.7 million acquisition loan from Rialto Capital Management. The 36,636-square-foot property last traded in 1995 and features 30 two- and three-bedroom apartments. Located directly across the street from Prospect Park, the building is close to the Brooklyn Museum and the Brooklyn Botanic Garden.
- 353 W. 115th St., Manhattan
Sale Price: $11,000,000
An entity affiliated with Hirth Real Estate sold the six-building portfolio to Brooklyn investor Howard Hershkovich. The 62-unit South Harlem portfolio includes a five-story asset at 353 W. 115th St., four five-story buildings at 362 W. 116th St. and another five-story building at 370 W. 116th St. The buyer financed the purchase with an $8.3 million acquisition financing package from New York Community Bank.
- 227 13th St., Brooklyn
Sale Price: $8,500,000
A limited liability company affiliated with SL Green sold the 26-unit property to Greenbrook Partners, with Rialto Capital Management providing $7 million in acquisition financing to facilitate the deal. The five-story Park Slope building encompasses 23,500 square feet and has regularly undergone improvements. Nearby transportation option includes the F & G train at the Fourth Avenue subway station, just three blocks away from the property.
- 32-22 41st St., Queens
Sale Price: $8,300,000
S & V Management sold a two-building portfolio including a four-story property at 32-22 41st St. and the adjacent four-story property located at 32-26 41st St. The buyer was an entity affiliated with Astoria-based Masterpiece Construction. New York Community Bank provided a $5.6 million acquisition loan. The buildings encompass nearly 20,000 square feet and last changed hands in 2000, also in a portfolio transaction.