Top 5 NYC Multifamily Building Sales—September 2024
Property Shark’s latest roundup of the city’s top deals.
Sale Price: $26 million
The Doe Fund has purchased the 37,744-square-foot multifamily property in the borough’s Bedford Park neighborhood, from HKS Capital Partners. Completed in 2022, the eight-story building includes 65 residential units with floorplans averaging 581 square feet. Manufacturers and Traders Trust Co. originated $30.3 million in acquisition financing.
Sale Price: $18.5 million
Sky Management has purchased the 26,800-square-foot multifamily property in Chelsea, from Madison Realty Capital. The new ownership also secured a $13.9 million acquisition loan through a mortgage modification and extension agreement with ConnectOne Bank. The six-story building was originally completed in 1950 and includes 36 residential units with an average unit size of 744 square feet.
Sale Price: $16.5 million
Gorjian Real Estate picked up a five-story multifamily property totaling 39,210 square feet in the borough’s Hell’s Kitchen neighborhood from a private individual. The property was originally completed in 1940 and includes 50 units with floorplans averaging 784 square feet. The buyer secured approximately $13.6 million in acquisition financing though three consolidated loan agreements originated by Prime Finance Partners.
Sale Price: $10.1 million
A Tokyo-based private investor acquired the 9,262-square-foot multifamily building in the Lenox Hill area from Icon Realty Management. The five-story property originally came online in 1910 and was lastly renovated in 2019. It includes 16 residential units with an average unit size of 579 square feet. The new ownership landed $6.6 million in acquisition financing via a portfolio loan that includes two other properties in Brooklyn, from Sumitomo Mitsui Banking Corp.
Sale Price: $9 million
The Permanent Mission of The Republic of Congo to The United Nations sold the 8,449-square-foot multifamily property in Manhattan’s Lenox Hill. The buyer was Brickner Makow. Rising five stories, the 1925-built asset was occupied by the seller and includes five residential units with floorplans averaging 1,690 square feet.
