Kahen Properties Acquires Midtown East Multifamily For $24M

The multifamily property located at 1020-1024 3rd Ave in Midtown East has been sold for a total price of $24,000,000. The buyer, Kahen Properties, acquired the property from the seller, Jans Investment Company. The sale was facilitated by brokers Clint Olsen and Stephen Godnick from JLL. The property consists of 28 units and spans across 17,100 square feet. The price per unit stands at $857,142, while the price per square foot is $1,403.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $24,000,000
• Units: 28
• Price per Unit: $857,142
• Square Footage: 17,100
• Price per Square Foot: $1,403

The sale of this multifamily property at 1020-1024 3rd Ave was facilitated by brokers Clint Olsen and Stephen Godnick from JLL, representing both the buyer, Kahen Properties, and the seller, Jans Investment Company. This transaction marks a significant milestone in the Midtown East market, showcasing the continued demand for multifamily properties in the area.