Top 5 NYC Multifamily Sales

2 min read

PropertyShark compiled the top 5 multifamily sales recorded in May 2019 in New York City.

Source: PropertyShark, a Yardi Systems Inc. company
  1. 235 W. 48th St., Manhattan
    235 W. 48th St., Manhattan

    Sale Price: $250,986,419

Dubbed The Ritz Plaza, this 42-story apartment building in the Theater District was 99.2 percent occupied as of May. Built in 1990, the asset comprises 479 studio, one- and two-bedroom units. According to Yardi Matrix, the last known owner was Stonehenge Partners, which purchased the property back in January 1997 for $77 million. Features include high ceilings, a community room, swimming pool, laundry facilities, 94 parking spaces, private balcony/patios in select units and views of the Hudson River. The mixed-use building also includes 4,405 square feet of retail and 25,000 square feet of office space.

  1. 106 W. 13th St., Manhattan
    Sale Price: $19,500,000

This walk-up building is estimated to have been constructed in 1910 and last altered in 1989. Standing six stories, the asset comprises 31 apartments. The property features 15,493 square feet of residential space, along with 1,400 square feet of retail space leased to Vidov Salon. Situated on a 4,130-square-foot lot in Greenwich Village, the building offers convenient access to the F, L, M, 1, 2 and 3 subway lines at the corner of Sixth Avenue and 14th Street, as well as the M55 bus route at the intersection of Avenue of the Americas and 12th Street.

  1. 184-188 W. 10th St., Manhattan
    Sale Price: $16,450,000

Featuring 20 units across five stories, this property comprises 10,000 square feet of residential space, averaging 625 square feet per apartment, as well as 2,500 square feet of ground floor retail. Nearby transportation options include the 1 subway line at the intersection of Seventh Avenue and Christopher Street, as well as the M20 bus route at the corner of Seventh Avenue and 10th Street. The building is estimated to have been developed in 1901 and last upgraded in 1986. Situated on a 2,668-square-foot lot in the West Village, the asset’s retail component is leased to Empellon Taqueria.

  1. 87-40 165th St., Queens
    Sale Price: $15,750,000

Hillside House, located in the submarket of Jamaica, comprises 118 units across six levels. Totaling 121,138 square feet, the 1960-built property was 100 percent occupied as of May. Floorplans include studio, one- and two-bedrooms, ranging from 463 to 1,100 square feet. According to Yardi Matrix, the original owner was Harry Silverstein, who purchased the asset back in September 1976 for $912,386. Property features include high ceilings, hardwood floors, laundry facilities, 98 parking spaces and access to 13,000 square feet of retail. The asset is located within an Opportunity Zone.

  1. 2474 Valentine Ave., Bronx
    Sale Price: $9,600,000

Comprising 44,590 square feet, this five-story walk-up was built in 1925. The building is located in the Fordham neighborhood and provides access to the B and D subway lines at the corner of Grand Concourse and 188th Street. The property includes 54 units with an average size of 826 square feet.

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