Top 5 NYC Multifamily Building Sales—January 2024
A roundup of recent major transactions put together by PropertyShark.
Sale Price: $29,000,000
Javeri Capital acquired the 8-unit mixed-use property in SoHo from BentallGreenOak. Bank of Montreal’s division BMO Capital Markets has provided a $20 million acquisition loan. Originally built in 1900’s and last updated in 2016, the six-story property includes apartment units averaging 1,926 square feet and 4,173 square feet of retail space. The new owner worked in partnership with HudsonPoint Group, according to The Real Deal.
Sale Price: $26,000,000
A private investor purchases the 17-story, 238-units multifamily property in Park Versailles neighborhood. JPMorgan Chase originated $19.5 million in acquisition financing. The seller of the asset is also a private investor, that picked it up in 2014 for $38 million. Built in 1965, the property totals 265,625 square feet of space and features Class A units averaging 1,116 square feet of space.
Sale Price: $25,507,195
TARGO Capital Partners acquired the five-story multifamily property in East Village. The deal includes 201 E. 4th St. and 203 E. 4th St. The properties include a total of 28 apartment units averaging 723 square feet. As part of the transaction, the new owner assumed a $45.1 million CMBS loan originated in 2019. The seller, Kushner Cos., owned the property since 2013, when it bought it for $7.3 million.
Sale Price: $22,876,839
The same buyer made another acquisition in East Village. Together with the five-story, 24-unit multifamily property, the deal also includes 120 – 122 E. 4th St. that features 48 apartment units. Kushner Cos. is the seller, and the two multifamily assets were also included in the same loan assumption agreement.
Sale Price: 19,100,000
A private investor picked up the 31-unit, five-story multifamily property in East Village. The property changed hands from another private investor. Derby Copeland Capital issued a variable interest rate financing package totaling $17 million. The property is built in 1928 and also includes 3,180 square feet of retail space, with Blanche’s Tavern, Top A Nail and Botvinnik Locksmith as tenants.
