Michael Sheehy Acquires Multifamily Property In NoMad, Manhattan For $4.2M

The closed property transaction took place on June 24, 2022, at 123 East 26th Street in the NoMad neighborhood of Manhattan. The asset involved in the transaction is a multifamily property with a total building square footage (BSF) of 5,728. The property is zoned as C4-5A, allowing for various commercial and residential uses. The property's lot size is 1,432 square feet, with dimensions of 14.5 feet x 98.75 feet. It falls under tax class 1 and has a floor area ratio (FAR) of 2.15. The property underwent an alteration permit on May 26, 2016.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,200,000
• Price per Building Square Footage (PPBSF): $733
• Square Footage (SF): 3,079
• Price per Square Foot (PPSF): $1,364
• Lot Size: 1,432 square feet
• Permits: Alteration 3 (05/26/2016)
• Lot Dimension: 14.5 ft x 98.75 ft

Michael Sheehy acted as the buyer in the transaction, while Jonathan L Kasso served as the seller. The sale price of the property was $4,200,000. The transaction reflects a price per building square footage (PPBSF) of $733 and a price per square foot (PPSF) of $1,364. The property has a total square footage (SF) of 3,079. The deal was carried out in accordance with the zoning regulations and tax classification of the property.