A commercial elevator building comprised of 4 stores located at 1745 First Avenue in the Upper East Side neighborhood of New York City has been sold in a rare transaction. The property, with a total square footage of 15,000, was delivered vacant to the market. The sale price for this multifamily asset was $10,300,000, resulting in a price per square foot of $686. The property was initially listed for an asking price of $11,500,000.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $10,300,000
• Address: 1745 First Avenue, New York City
• Market: Upper East Side

The seller of the property was Herman Doss, while the buyer was Jan Hus Presbyterian Church. The transaction was facilitated by brokers Peter Von Der Ahe, Joe Koicim, Jared Bernstein, and Danny Handweiler from New York MultiFamily, along with Susan Kahaner and Jennifer Ogden from Avison Young. No additional information about the involvement of the brokers in the deal was provided.

It is worth noting that this sale represents a unique opportunity to acquire a commercial elevator building in a prime location.