Top 5 New York Multi-Family Home Sales — January 2022
- 80-08 135th Street, Queens
Selling price: $87,200,000
A partnership between Black Spruce Management and NYC Housing Partnership acquired the Briarwood portfolio, which also includes 81-10 135th St., with a total of 382 units. The seller, The Musso Group, purchased the two 1949-built buildings dubbed The Allison in 2009 for $28 million and in 2020 expanded the complex with two more buildings known as The Noll & Grove Apartments. Signature Bank has launched a financing package of $72 million for the acquisition.
- 143 Roebling Street, Brooklyn
Selling price: $82,722,728
RedSky Capital has sold the five-story property totaling 49 units in Williamsburg to Calmwater Capital. The 104,661 square foot building was originally constructed in 1907 and underwent alterations in 2011. The property features residential floor plans averaging 1,780 square feet as well as an office component of 11,943 square feet and a commercial space of 5,500 square feet.
- 1481 Second Avenue, Manhattan
Selling price: $72,600,000
Sky Management Corp. sold the vacant portfolio of two properties in Lenox Hill — which also includes 251 E. 77th St. — through a transaction facilitated by JLL, according to Trade Observer. The buyer, Naftali Group, secured a senior loan of $47.8 million, a project loan of $5.3 million as well as a construction loan of $1.9 million issued by CIT Bank . The duo has approximately 153,734 square feet of buildable area, which can be increased through the Inclusive Housing Bonus Program.
- 4001 Broadway, Manhattan
Selling price: $51,000,000
Elysee Investment Co. acquired the 42-unit property in Washington Heights as well as the 16-unit 1121 First Ave. in Lenox Hill and the 11 units 318 W. 75th St. on the Upper West Side of Sirkin Realty Corp. Bank of America facilitated the acquisition of the three-property portfolio with a $34 million loan. The six-story community in Washington Heights features 7 commercial units totaling 11,283 square feet, while of the two five-story properties, only 1121 First Ave. includes 1,500 square feet of retail space.
- 305 E. 61st Street, Manhattan
Selling price: $35,000,000
Carter Management Corp. sold the Upper East Side redevelopment project to Forkosh Development Group. The condominium will include 36 units, an 8,180 square foot commercial component on the ground floor and a mezzanine. Battery Park Group arranged pre-development financing for the developer, a $26.5 million loan backed by Madison Realty Capital. Recently, the lender also launched a $106 million construction loan for a 133-unit mixed-use project in the city.