Top 5 NYC Multifamily Building Sales—October 2021

1 min read

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

Source: PropertyShark, a Yardi Systems Inc. company
  1. 1134-1152 Fulton St., Brooklyn
    Sale Price: $254,433,800
1134-1152 Fulton St., Brooklyn

Bruman Realty sold a three-building portfolio to Kohlberg Kravis Roberts & Co., the transaction marks the first time the newly built properties changed hands. The 293-unit portfolio also included a 36,991-square-foot retail space at the 182-unit Fulton Street property, the 90-unit 1056 Manhattan Ave., and the 21-unit 93 Linden St. Athene USA funded the transaction with a $143.1 million acquisition loan.

  1. 79-83 Clifton Place, Brooklyn
    Sale Price: $34,000,000

Freo Group sold the 40-unit property to The Carlyle Group. The four-building property last traded in January 2020, when the current seller purchased it for $22.9 million and financed that acquisition with a $17.4 million loan originated by Voya Financial. The six-story, 1939-built community underwent upgrades in 1998 and features floorplans averaging 1,448 square feet.

  1. 80-01 37th Ave., Queens
    Sale Price: $26,250,000

A private investor sold the 87-unit community in Jackson Heights. Signature Bank facilitated the deal with a $19 million acquisition financing package. Built in 1928, the six-story property encompasses 88,492 square feet of residential space as well as a 10,000-sqare-foot retail space divided into 12 commercial units.

  1. 213 E. 37th St., Manhattan
    Sale Price: $24,800,000

Encompassing two buildings within the Murray Hill neighborhood, the 82-unit portfolio also includes the 48-unit 207 E. 37th St. Both communities were completed in 1925 and underwent alterations in 1986 and 1989, respectively. The two-property portfolio totaling 56,289 square feet last traded in October 1995.

  1. 677-679 Madison Ave., Manhattan
    Sale Price: $20,000,000

Vornado Realty Trust sold the 8-unit property to Metro, a wholly-owned subsidiary of Reuben Brothers. The five-story property was originally built in 1900, last changed hands in 2007 and underwent renovations a year later. The single-building property has a 9,200-square-foot residential component as well as a retail element totaling 3,000 square feet.

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