Top 5 NYC Multifamily Building Sales—April 2024
A roundup of recent major transactions put together by PropertyShark.
Sale Price: $87,400,000
Legion Investment Group has purchased a site slated for a 20-story mixed-use building in the Chelsea neighborhood. The seller is Casco Development, that initially planned a condominium project of up to 172,000 square feet, according to The Real Deal. The same source reveals that Legion Investment Group bought the development site out of bankruptcy and is planning to use the existing foundation for a future development. Deutsche Bank originated a $55.8 million loan servng as acquisition financing.
Sale Price: $25,365,000
A private individual sold the 8,300-square-foot property in Greenwich Village to a private entity. The four-story building is a converted dwelling rooming house with residential units averaging in sizes of 760 square feet.
Sale Price: $24,100,000
Page Management Co. sold the 33,930-square-foot, three-building multifamily complex in Manhattan’s SoHo to Derby Copeland Capital. The property is part of a $60.3 million portfolio deal where Derby Copeland Capital acquired a total of four multifamily buildings totaling 165 residential units from the seller, according to Avison Young, that arranged the sale.
Sale Price $15,000,000
The 27,108-square-foot multifamily property in Greenwich Village was acquired by Derby Copeland Capital as part of the same $60.3 million deal. The six-story building includes 35 Class A residential units with an average unit size of 775 square feet.
Sale Price: $14,577,000
A private investor picked up the 20,800-square-foot multifamily building in Brooklyn’s Williamsburg neighborhood. The six-story building changed hands from a private entity, while Bridge City Funding originated a $10.8 million acquisition loan. The multifamily asset is originally built in 1927, upgraded in 2001 and includes three retail units and 22 residential units with an average unit size of 498 square feet.
