REDA 75 LLC Acquires Mixed-Use Property In Upper East Side For $6.9M

A mixed-use property located at 240 E 75th St in the Upper East Side neighborhood recently changed hands in a sale transaction. The property consists of 10 apartments and 2 retail units, offering a diverse range of uses. The sale took place on 03/27/2019, with a sale price of $6,900,000 and a total area of 7,951 square feet. The price per square foot (PPSF) for the property was calculated at $867. With a cap rate of 4.43%, this transaction presents an attractive investment opportunity in the area.

Summary of Transaction Details

• Property Type: Mixed-use (10 Apts + 2 Retail)
• Transaction Amount: $6,900,000
• SF: 7,951
• PPSF: $867
• Cap Rate: 4.43%
• Seller: The Serel Family
• Buyer: REDA 75 LLC – Julian Kiguel
• Broker: Michael Ferrara - Brax Realty NYC

Represented by Michael Ferrara of Brax Realty NYC, the seller of the property was The Serel Family. The buyer, REDA 75 LLC, was represented by Julian Kiguel. This deal showcases the collaborative effort of these key individuals and companies in the successful purchase and sale of the mixed-use property on East 75th Street.