Top 5 NYC Multifamily Sales

PropertyShark compiled the top 5 multifamily sales for April 2018 in New York City.
Source: PropertyShark, a Yardi Systems Inc. company
  1. 122 W. 97th St., Manhattan
    122 W. 97th St., Manhattan

    Sale Price: $287,000,000

Stonehenge Partners sold its 417-unit Stonehenge Village community to A&E Real Estate Holdings. The sale of the 1968-built property was subject to a $217 million loan held by Mesa West Capital. According to Yardi Matrix, the asset offers one-, two- and four-bedroom floorplans ranging from 700 to 1,400 square feet. As of March 2018, the building was 99.0 percent occupied. The community also offers 7,023 square feet of retail and 19,757 square feet of office space. Amenities include a fitness center, playground, laundry facilities, 250 covered parking spaces, a doorman, hardwood floors and high ceilings across the 14 stories.

  1. 461 Dean St., Brooklyn
    Sale Price: $156,000,000

Principal Global Investors acquired this 363-unit property from Forest City Enterprises. Floorplans are offered in studio, one- and two-bedroom layouts ranging from 450 to 920 square feet. Of the total units, 181 are designated as affordable. The building also offers 4,000 square feet of ground-floor retail. Amenities include a fitness center, clubhouse, children’s playroom, laundry facilities, a doorman and rooftop terrace. The 2/3 subway lines are located .07 miles away at the corner of Flatbush Avenue and Bergen Street.

  1. 94-25 57th Ave., Queens
    Sale Price: $6,500,000

Comprising 164 studio, one-, two- and three-bedroom units, this community offers laundry facilities, 50 covered parking spaces, private balcony/patios, and 7,000 square feet of office space across its seven stories. Fully affordable, the asset last changed hands in August of 2016 when Treetop Development purchased the property for $40.7 million, or around $248,000 per unit. Built in 1961, the community was last updated in 1998.

  1. 125 W. 16th St., Manhattan
    Sale Price: $41,409,880

Situated on a 9,200-square-foot lot in Chelsea, this property offers six-stories. The asset comprises 43 residential units totaling 38,604 square feet, with an average unit size of 898 square feet. There is also one commercial unit of a 900-square-foot office space on the ground level. Built in 1918, the building offers close access to the F/L/M/1/2/3 subway lines at Sixth Avenue and 16th Street.

  1. 121 Kent Ave., Brooklyn
    Sale Price: $22,350,000

Sold along with 119 Kent Ave. and 123 Kent Ave., this building features four stories totaling 4,700 square feet. There are currently six residential units in the property, with an average size of 600 square feet. The asset also includes 1,100 square feet of retail on the ground level. The building, which is within close proximity to the L subway line at Bedford Avenue and North Seventh Street, is estimated to have been constructed in 1910 and last renovated in 1995.