Updated Aug 21, 2026
SOLDMultiFamily
AD Real Estate Sells Multifamily Building At 141 East 17th Street For $6.25 Million
141 East 17th Street
$6,250,000
$930/SF
Building Size
6,720 SF
Asset Type
MultiFamily
Closing
Jun 28, 2026
About this deal
AI
141 East 17th Street is a three-unit luxury multifamily building located in the Gramercy Park market. The asset was sold for $6,250,000 and encompasses 6,720 square feet, equating to a price per unit of $2,083,333 and a price per square foot of $930.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,250,000
- Units: 3
- Square Footage: 6,720
- Price Per Unit: $2,083,333
- Price Per Square Foot: $930
- Seller: AD Real Estate
- Seller's Representative: Michael Gembecki, Robert Burton, Bobby Carrozzo, Craig Waggner, John Ciraulo & Jack Stephen - Cushman & Wakefield
- Date of Sale: 6/29/2026
- Market: Gramercy Park
Cushman & Wakefield represented AD Real Estate in this transaction, successfully attracting a buyer interested in both luxury owner occupancy and investment income from the property. The three expansive free-market apartments featured condo-quality finishes, contributing to the appeal of the asset.
Players
AD Real EstateSeller
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93