James D. Ryan III's RYCO Capital Acquires Multifamily Building On Avenue A For $19.1M

A 31-unit residential elevator building located at 135 Avenue A in East Village, Manhattan, has been sold for a total of $19.1 million. The property, represented by an entity named West Lake 135-139 Avenue A LLC on behalf of James D. Ryan III from RYCO Capital, was acquired from Herrick 137 LLC, whose sellers were Peter Herrick and Norma Herrick. The multifold asset consists of 27,266 square feet with a price per square foot of $701. The price per buildable square foot is $527, and the total buildable square footage is 36,272.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $19,100,000
• Buyer: James D. Ryan III - RYCO Capital
• Seller: Peter Herrick & Norma Herrick
• Market: East Village, Manhattan

RYCO Capital, represented by West Lake 135-139 Avenue A LLC, completed the acquisition of the residential elevator building at 135 Avenue A. The transaction took place on 12/20/2023, with a sale price of $19.1 million. James D. Ryan III acted as the buyer, representing RYCO Capital, while Peter Herrick and Norma Herrick were the sellers. The property, with a total square footage of 27,266, was sold at a price of $701 per square foot. The buildable square footage is 36,272, with a price per buildable square foot of $527.