Top 5 NYC Multifamily Sales

PropertyShark compiled the top 5 multifamily sales recorded in July 2018 in New York City.

Source: PropertyShark, a Yardi Systems Inc. company

  1. 135-25 Maple Ave., Queens

    135-25 Maple Ave., Queens

    Sale Price: $51,000,000

Known as The Stoneridge, this multifamily community offers 180 studio, one-, two- and three-bedroom units starting at 400 square feet. Built in 1957, the property is located in Flushing and was last owned by Treetop Development, which purchased the asset back in December 2015 from Algin Management for $52.9 million, according to Yardi Matrix. The six-story, partially affordable asset includes hardwood floors, laundry facilities and 100 covered parking spaces.

  1. 132-57 Sanford Ave., Queens
    Sale Price: $40,400,000

Sanford Terrace comprises 126 studio, one-, two- and three-bedroom units across six stories. Constructed in 1951, the property is 100 percent occupied and was sold along with the above mentioned property, 135-25 Maple Ave. Community features include above standard ceiling heights, laundry facilities and 44 covered parking spaces. Sanford Terrance last traded for $32.7 million when Treetop purchased it in 2015 as part of a portfolio transaction with The Stoneridge, Denman Gardens, The Summit Apartments and El Dorado Apartments.

  1. 41-40 Denman St., Queens
    Sale Price: $36,000,000

Denman Gardens, as mentioned above, was part of a four-community portfolio buy back in December 2015. The property offers 122 studio, one- and two-bedroom apartments ranging from 350 to 835 square feet. This asset was originally purchased back then for $22 million. Features of the 1961-built community include laundry facilities, 38 covered parking spaces, private balcony/patios and hardwood floors. 

  1. 3430 Broadway, Manhattan
    Sale Price: $26,200,000

Estimated to have been built in 1930, this six-story property is situated on a 15,000-square-foot lot. Located in Harlem, the 51-unit building comprises 72,774 square feet of space. The 1 subway line can be accessed at the corner of Broadway and 137th Street and the M4/M5 bus routes can be reached at Broadway and West 139th Street.

  1. 83-15 Lefferts Blvd., Queens
    Sale Price: $22,680,000

Located on a 28,800-square-foot lot in the neighborhood of Kew Gardens, this asset comprises 107,700 square feet across 90 residential units spread throughout six floors. Built in 1937, the property is within close proximity to the J/Z subway lines at the corner of 121st Street and Jamaica Avenue, as well as the Q54 bus route at Metropolitan Avenue and Lefferts Boulevard.

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