Top 5 sales of multi-family buildings in New York – September 2021

1. 58 E. Third Street, Manhattan
   Sale price: $ 49,500,000

Anbau Enterprises sold a portfolio of three buildings to an entity affiliated with GAIA Real Estate as part of an off-market transaction. The portfolio of 71 units included 54 E. Third Street. and 50 E. Third Street. Bank of America facilitated the transaction with a $ 36 million acquisition loan that bears an interest rate of 2.4 and is expected to mature in August 2051. The six-story building has negotiated for the last time at $ 58 million in 2016.

2. 700 W. End Ave., Manhattan

Sale price: $ 28,500,000

Salamon Realty LLC sold the 65 unit property on the Upper West Side to The Lightstone Group. The new owner took over the outstanding balance of a $ 2.5 million loan held by Capital One. The 15-story building last changed hands in 1976 and consists of 51 free market units and 14 regulated units. Nearby transportation options include subway lines 1/2/3 accessible at the SW corner of Broadway and 96th Street.

3. 1018 E. 163rd St., Bronx
   Sale price: $ 24,000,000

A private investor sold the low-income 97-unit building to Wavecrest Equities, a subsidiary of Wavecrest Management. Signature Bank facilitated the transaction with acquisition financing of $ 13.5 million, which bears an interest rate of 2.4% and a maturity date of September 2051. The six-story property comprises 145,980 square feet of residential space, as well as 11,000 square feet of retail space in five commercial units.

4. 360 E. 193rd Street, Bronx
   Sale price: $ 18,700,000

A subsidiary of FCA Realty sold the 14 unit property to Fordham. The new owner has secured a $ 13.1 million permanent loan with an interest rate of 3.4% and due to expire in August 2031, as well as a $ 17.1 million collateral mortgage. under the same conditions. Totaling $ 30.2 million, the loans are held by BCTH Investors LLC. The three-story property was completed in 1953 and underwent changes in 2017.

5. 230 E. 167th Street, Bronx
   Sale price: $ 13,550,000

The Morgan Group sold the mixed-use building of 83 housing units to an entity linked to Denali Management. Investor Bank facilitated the transaction with acquisition financing of $ 10.2 million. The permanent loan bears an interest rate of 2.4% and is expected to mature in August 2051. The seven-story Concourse Village property comprises 78 apartments, as well as a 2,000 square foot commercial component comprising five commercial units. .