Top 5 NYC Multifamily Building Sales—November 2021

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

Source: PropertyShark, a Yardi Systems Inc. company

Source: PropertyShark, a Yardi Systems Inc. company

  1. 415 W. 120th St., Manhattan
    Sale Price: $83,750,000

A joint venture between Pebb Capital and TriHill Management (formerly known as TriArch Real Estate Group) sold the 80-unit student housing community to Timberline. The partnership broke ground on the 153-bed property dubbed 415W120 in late 2018. The 14-story building is serving Columbia University in Morningside Heights, less than half a block away.

  1. 756 Myrtle Ave., Brooklyn
    Sale Price: $49,000,000

756 Myrtle Ave., Brooklyn

A private investor duo sold the 72-unit, mixed-use property in Bedford-Stuyvesant. Signature Bank facilitated the transaction with $37.3 million in acquisition financing. The 2007-built MYNT also includes a commercial unit totaling 17,370 square feet. The property last traded in 2016, when The Chetrit Group sold it for $52.4 million. The current sellers financed that purchase with a $34 million loan originated by Investors Bank.

  1. 95 Bedford St., Manhattan
    Sale Price: $17,600,000

The narrow, 5-unit community nestled in West Village was completed in 1915 and underwent alterations in 1967. Originally built as a stable designed by Kurzer & Kohl, the structure was converted into apartments and offices, when J. Goebel & Co. relocated to the building in 1927. The 9,232-square-foot, four-story townhouse also includes a 300-square-foot garage.

  1. 4755 White Plains Road, Bronx
    Sale Price: $14,800,000

An entity connected to Rettner Realty sold the 84-unit community to Chestnut Holdings of New York Inc. The buyer secured an $11.1 million acquisition loan funded by Signature Bank for the 1939-built property in Wakefield. Nearby transportation options include the 2, 5 subway lines accessible at the NW corner of 241st Street and White Plains Road.

  1. 425 E. 80th St., Manhattan
    Sale Price: $12,700,000

Abington Properties sold the seven-story community totaling 40 units to Monarch Realty Holdings. The First National Bank of Long Island provided a $9.5 million acquisition financing package for the new owner. Originally built in 1925, the property was renovated in 1985. The walk-up apartment building features floorplans averaging 575 square feet and also includes two rent restricted units.  

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