Top 5 NYC Multifamily Building Sales—March 2025
The metro’s top deals for the sector rounded up by PropertyShark.
Sale Price: $116.5 million
The 202,322-square-foot residential property in Yorkville known as Rivers Bend changed hands from Solow Building Co., a Soloviev Group company, to A&E Real Estate. The buyer also assumed a $60.5 million Freddie Mac loan originated initially in 2020.
The 21-story luxury property features 179 Class A units with an average size of 1,046 square feet. Developed by Solow Building Co. in 1963, the property currently includes a range of amenities, such as a fitness center, a swimming pool and a rooftop terrace.
Sale Price: $103.3 million
Totaling 14,594 square feet, the two-building multifamily asset at 33 and 35 E. 60th St. was acquired within a three-property portfolio deal that includes the 6,980-square-foot building at 37 E. 60th St. and the 6,740-square-foot building at 39 E. 60th St. Extell Development picked up the properties from Solil Management.
The five and four-story properties feature 30 residential units ranging from 787 square feet to 1,396 square feet and include a total of 99,340 square feet of unused air rights. The collection is next to Extell’s planned 37-story residential tower on Madison Avenue, an office-to-residential conversion project that will include 62 units, according to The Real Deal.
Sale Price: $68.5 million
Shel Capital, together with Bluestone Investments, picked up the 105-unit multifamily building in the borough’s Gowanus neighborhood from Trinity Place Holdings. The buyer also landed $44.5 million in financing through an extension agreement with JLL Real Estate Capital. The asset previously traded in 2018, for $81.2 million.
Built in 2015, the property rises 12 stories and encompasses 92,722 square feet. Residential units have an average size of 833 square feet and the property also includes 5,298 square feet of retail space.
Sale Price: $50 million
Earlier in the month, Extell Development was involved in another deal. The company sold a 34-unit Class A residential property in Manhattan’s Yorkville neighborhood to an entity related to Brooklyn, N.Y.-based Chess Builders.
The property became subject to a $51.8 million financing package through two building loan notes from Valley National Bank. The new ownership plans to demolish the 29,987-square-foot building and develop two mixed-use buildings at the site, CommercialObserver reported. Plans call for 200,364-unit project, with Valley Bank’s total financing amounting to $119 million, according to the same source.
The property came online in 1910 and rises four stories, with an average unit size of 687 square feet and 7,310 square feet of retail space. Construction plans at the site will include a 23-story building with 99 units, PropertyShark shows.
Sale Price: $40 million
City Urban Realty has bought the 87,150-square-foot asset in Lincoln Square from multiple entities affiliated with Ohebshalom Family’s Empire Management. The new ownership also secured a $31.7 million loan held by Israel Discount Bank of New York.
The 16-story property came online in 1928 and features 86 Class A units with an average unit size of 974 square feet. Additionally, it also includes 1,400 square feet of retail space and a 100-point Walk Score and Transit Score.
—Posted on April 18, 2025
