Top 5 NYC Multifamily Building Sales—February 2025
A recap of recent major transactions compiled by PropertyShark.
Sale Price: $28.3 million
Slate Asset Management bought the 18-unit multifamily property totaling 50,908 square feet from Rockfeld Group. London-based OakNorth Bank originated $14 million in acquisition funds on behalf of the buyer.
The property is in Manhattan’s East Harlem and includes 28,700 square feet of residential space, with an average unit size of 1,594 square feet. Additionally, the multifamily building features two commercial units totaling 12,714 square feet of retail space and 9,494 square feet of office space. Completed in 2006, the seven-story residential asset last traded in 2014, when Rockfeld Group bought it for $20.5 million from Lane Capital Partners.
Sale Price: $22.5 million
Legion Investment Group purchased the nine-unit, 8,694-square-foot residential building in Gramercy Park from an entity related to Virginia-based Belvedere Property Management. The five-story building is part of the buyer’s assemblage of multiple parcels on the neighborhood’s Third Avenue and East 21st Street.
Legion Investment Group and partner Gindi Capital plan to develop a ground-up condominium building, the first new condo project in Gramercy Park in a century. Originally completed in 1927, the property is part of the final pieces of land that will allow the developer to build a 20-story building with a Gramercy Park address.
The partnership secured $123.8 million in construction funds from BDT & MSD Partners, backed by three properties, including this one. The total financing package for Legion Investment Group’s project totals $335 million, with BDT & MSD Partners and Global Holdings as lenders.
Sale Price: $20.8 million
A private investor picked up the four-story multifamily building in the borough’s Greenwich Village from The Novogratz, the company led by developer and designer duo Bob and Cortney Novogratz.
The 4,974-square-foot building dates back to 1900 and includes four residential units with an average size of 1,244 square feet. The Novogratz acquired the building in 2019 for $8.5 million, with plans to upgrade it. The property was renovated by the couple in 2022 and now features a yellow gold exterior, an upgraded kitchen and outdoor dining space as well as multiple interior enhancements, according to the New York Post.
Sale Price: $20.4 million
A private investor has acquired the 155-unit multifamily building in Jamaica, N.Y., from Barberry Rose Management. The buyer landed $14.9 million in acquisition funds through a mortgage consolidation from Ridgewood Savings Bank.
Located within the Jamaica Estate neighborhood, the property rises 12 stories and encompasses 139,143 square feet. Built in 1962 and renovated in 2013, it includes five commercial units, 5,000 square feet of office space, 10,000 square feet of parking space and an average residential unit size of 801 square feet.
Sale Price: $14.1 million
David Eisenstein Real Estate purchased the six-story multifamily building in Manhattan’s Yorkville area from an entity affiliated with a London-based investor. The buyer landed a $12.4 million financing package in the form of a senior and abuilding loan from an entity related to Derby Copeland Capital.
Originally completed in 1920, the residential building totals 38,700 square feet and has an average unit size of 1,334 square feet. It is close to Carl Schurz Park and to multiple bus and subway stations.
—Posted on March 26, 2025
