Top 5 NYC Multifamily Sales—November 2020
PropertyShark compiled the top multifamily sales recorded last month in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
- 124 W. 114 St., Manhattan
Sale Price: $37,000,000
124 W. 114th St., Manhattan
Part of the same residential complex, the 27,141-square-foot property sold along with the 31,220-square-foot building at 1871 Adam C Powell Blvd. The communities make up the fully affordable, 60-unit Deshler Apartments in Harlem. A joint venture between Camber Property Group and Belveron Partners sold the asset to the Harlem Congregations of Community Improvement (HCCI). Located within an opportunity zone, the Deshler features studios and one- to three-bedroom apartments.
- 107-113 W. 109th St., Manhattan
Sale Price: $28,000,000
The 49-unit affordable community known as Morningside Apartments sold to HCCI in a separate transaction. The sellers, Camber Property Group and Belveron Partners, had acquired the property in 2018 in a $60 million portfolio deal along with Deshler Apartments and Nueva Era Apartments. The six story building features one- and two-bedroom units and is close to several subway stations including the Cathedral Parkway and 103rd Street stations.
- 81 Pierrepont St., Brooklyn
Sale Price: $12,500,000
The 8,250-square-foot 1845-built Greek revival changed hands in an off-market transaction. Renovated by The Brooklyn Home Co., the Brooklyn Heights brownstone underwent a complete transformation. The landmarked building features a deck, a terrace and a roughly 525-square-foot garden. The buyer, a private investor, also purchased the carriage house behind the property, located at 35 Love Lane.
- 287 Audubon Ave., Manhattan
Sale Price: $12,000,000
Also known as Nueva Era Apartments, the 34-unit community changed hands together with the adjacent, 17-apartment property at 289 Audubon Ave. The same joint venture—Camber Property Group and Belveron Partners—sold the assets to HCCI. The Washington Heights properties were completed in 1988 and both span five floors. Nearby transportation options are accessible via the 168th, 175th, 181st and 191st Street subway stations.
- 57 W. 86th St., Manhattan
Sale Price: $11,400,000
The 13-unit Art Deco property traded in early November with the help of $6.6 million in acquisition financing provided by Argentic. The four-story building, originally developed as two-row houses in 1888 and 1889, was converted into one structure by the Corn Exchange Bank and Trust Co. in 1929. The 13,290 -square-foot property includes 11 free-market units and one rent-stabilized studio apartment. The ground-floor commercial unit is occupied by JP Morgan Chase.
