Jeffrey Levine Acquires Multifamily Buildings In Carnegie Hill For $124.5M

The transaction in Carnegie Hill, Manhattan, involved the sale of two buildings, 175 East 82nd Street and 170 East 83rd Street, as part of a multifamily asset deal. The buyer, Jeffrey Levine of Douglaston Development, purchased the properties from the seller, 170 East 83rd LLC, a subsidiary of Valeray Real Estate, for a total sale price of $124,500,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $124,500,000
• Buyer: Jeffrey Levine - Douglaston Development
• Seller: 170 East 83rd LLC (a subsidiary of Valeray Real Estate)
• Address: 175 East 82nd Street & 170 East 83rd Street
• Market: Carnegie Hill, Manhattan

The purchases were finalized on June 5, 2024, with Douglaston Development acquiring two properties from Valeray Real Estate. The deal included $114.5 million for 175 East 82nd Street, intended for a 72-unit high-rise tower, and $10 million for the adjacent 89-unit residential elevator building at 170 East 83rd Street.