Top 5 NYC Multifamily Building Sales—July 2024
PropertyShark collected the city’s top deals for the sector.
Sale Price: $62.6 million
Fetner Properties acquired the 71,750-square-foot, 20-story multifamily property in Lenox Hill from Sky Management. The company worked in joint venture with Stockbridge Capital Group, while New York Life Insurance Co. provided $36 million in acquisition financing. The Class A multifamily asset, dubbed The Rose Modern, was completed in 2014 and includes 82 residential units.
Sale Price: $35.5 million
A private investor purchased the three-story, 5,328-square-foot residential building in Manhattan’s West Village from real estate attorney firm Schwartz Levine Pinkas Stark PLLC. The property includes three residential units with an average size of 1,332 square feet. The buyer landed $38 million in acquisition financing through two notes, with Bank of America serving as lender. The first loan of $14 million has a maturity date set for 2039.
Sale Price: $27.0 million
An entity affiliated with 33 Equities picked up the 79-unit multifamily building in the Bronx’s Williamsbridge neighborhood. The seller was RBA Developers, that also completed the 53,738-square-foot building in 2023. Israel Discount Bank of New York originated $21.1 million in acquisition financing through two loans.
Sale Price: $26.6 million
The three-building multifamily complex was sold by its developer, HKS Real Estate Advisors to an affiliate of Vocational Instruction Project Community Services Inc., or VIP Community Services. Built in 2019 and totaling 44,620 square feet, the complex is in the Williamsburg neighborhood of the Bronx. It includes three eight-story buildings for a total of 66 residential units, with an average unit size of 676 square feet. Manufacturers and Traders Trust Co. originated $30.4 million in acquisition financing.
Sale Price: $25.8 million
Through an earlier deal, MBD Community Housing Corp. purchased the 2020-built, seven-story multifamily property from the same seller, HKS Real Estate Advisors. The 55,939-square-foot residential asset is in the Bronx’s Fordham neighborhood and includes 57 units, with an average unit size of 737 square feet. The housing services organization secured a $29.1 million loan from New York City Housing Development Corp.
