Top 5 NYC Multifamily Building Sales February 2024

A roundup of recent major transactions put together by PropertyShark.

Sale Price: $31,000,000

BentallGreenOak sold the 12-story, 60-units multifamily property in the Upper West Side neighborhood. The deal also includes 120 Riverside Drive, a nine-story multifamily building with 34 units. AYA Acquisitions is the new owner of the two-building portfolio and it also secured a $15.9 million acquisition financing, provided by First Horizon Bank. The properties previously changed hands in 2013 for $84.9 million.

Sale Price: $21,990,000

Penn South Capital acquired the six-story, 36-unit multifamily building, together with 174 E. 2nd St., a five-story, nine-unit adjacent property. The seller of the East Village asset is Kushner Cos., that owned the properties since 2013, when it picked them up for $17 million. The new ownership assumed the $36 million CMBS loan backed by the two-property portfolio as well. Marcus & Millichap brokered the deal, according to The Real Deal.

Sale Price: $18,250,000

The six-story, 22-unit multifamily building in Manhattan’s West Village changed hands from seller Rudd Realty Management. The buyer is Wharton Properties, that also secured a $2.7 million loan as well as an additional $115,000 project loan, both issued by Prime Finance Short Duration Holding Co. VIII.

Sale Price: $14,105,672

The Brooklyn Heights multifamily asset’s new owner is a private investor that also landed a $120 million acquisition loan originated by Invesco Real Estate. The seller of the five-story, 18-unit property is Greenbrook Partners.

Sale Price: $12,052,000

A private investor sold the two-story,12-unit multifamily building in Brooklyn’s neighborhood of Fort Greene to Kassin Sabbagh Realty. The buyer also landed a $1.2 million acquisition loan and another consolidation agreement totaling $9.8 million from lender Israel Discount Bank of New York. Raven Property Advisors brokered the deal, according to Traded: New York.

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