Ohebshalom Sells Mixed-use & Multifamily Portfolio In Manhattan For $331.1M
137 Sullivan Street, Manhattan, 10012
$331,075,000
$738/SF
Building Size
448,079 SF
Asset Type
Mixed-use
Closing
Feb 28, 2026
About this deal
AI
The transaction involved a mixed-use and multifamily portfolio located in Manhattan, comprising a total of 448,079 square feet. The asset consists of 22 properties and was sold for $331,075,000, translating to a price per square foot of $739. The sale was finalized on February 28, 2026.
Summary of transaction details:
- Property Type: Mixed-use & Multifamily
- Transaction Amount: $331,075,000
- Square Footage: 448,079
- Price per Square Foot: $739
- Number of Properties: 22
- Market: Manhattan
- Landlord: Ohebshalom
The sale features multiple multifamily deals across Manhattan and Brooklyn, notably highlighting the Ohebshalom family's involvement in this substantial portfolio transaction. Additionally, there are indications that several deals include matching LLC names on both sides, leading to questions regarding whether these were arm's length sales or internal transfers.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93