David M. Friedman Acquires Multifamily Property In Des Plaines For $74M

The multifamily property located at 9700 Sumac Road in Des Plaines has been sold in a closed transaction. The transaction took place on August 19, 2022, and was facilitated by Tony Malkin, the seller, who represents Empire State Realty Trust, and the buyer, David M. Friedman, who represents F&F Realty. The sale was brokered by John Jaeger from CBRE.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $74,000,000
• Units: 504
• Price Per Unit (PPU): $146,825
• Address: 9700 Sumac Road, Des Plaines
• Market: Des Plaines

The seller, Tony Malkin, who represents Empire State Realty Trust, successfully sold the multifamily property for $74,000,000. The buyer, David M. Friedman, representing F&F Realty, acquired the property. John Jaeger from CBRE served as the broker for this transaction.