Top 5 NYC Multifamily Building Sales—June 2022

2 min read

PropertyShark’s monthly roundup of the city’s biggest deals.

Source: PropertyShark, a Yardi Systems Inc. company
  1. 260 Gold St., Brooklyn
    Sale Price: $225,000,000
260 Gold St. Image courtesy of Cignature Realty Associates Inc.

Bruman Realty sold the 286-unit high-rise in Downtown Brooklyn to a joint venture between Kohlberg Kravis Roberts & Co. and Dalan Management. New York-based Cignature Realty represented both the seller and the buyer in the sale of the 13-story building completed in 2021. The new owners secured a $125.4 million acquisition loan originated by Wells Fargo Bank. The residential tower, which includes 86 affordable units, offers studios as well as one- to three-bedroom apartments.

  1. 2001 Story Ave., Bronx
    Sale Price: $169,000,000

Lineage Properties sold the 355-unit nine-story building in Unionport alongside the five-story 883 E. 180 St. totaling 200 units in West Farms for $105 million and $64 million, respectively. Starwood Mortgage Capital and Bank of Montreal funded the purchase with a $144.2 million financing package. Built in 1973 and renovated in 2006, 2001 Story Ave. offers floorplans averaging 1,077 square feet, while the 1979-built two-building property has units averaging 905 square feet.

  1. 231 E. 76th St., Manhattan
    Sale Price: $49,140,000

BlackRock sold The Prescott, a partially affordable property encompassing 90 units in Lenox Hill to Fortress Investment Group. MetLife Investment Management facilitated the transaction with a three-loan financing package totaling $39.7 million. Completed in 1937, the nine-story building includes studios as well as one- and two-bedroom configurations up to 1,080 square feet in addition to penthouse options with 25 apartments set aside as affordable housing.

  1. 487 Keap St., Brooklyn
    Sale Price: $36,300,000

Read Property Group sold the 51-unit property in Williamsburg. KeyBank provided a $28 million loan for the acquisition of the six-story building, which was completed in 1910 and last renovated in 2009. The 56,997-square-foot single-building community with easy access to the Brooklyn-Queens Expressway offers floorplans averaging 1,118 square feet.

  1. 259 W. 10th St., Manhattan
    Sale Price: $31,537,500

A&R Kalimian sold The Village Landmark encompassing 53 units in West Village to Eagle Point Properties. The eight-story building was completed in 1979. As part of the acquisition, the new owner assumed a $16.9 million mortgage originated by People’s United Bank, which merged into M&T Bank in April. The outstanding balance of loan originated in 2013 is approximately $14.2 million.

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