LIHC Investment Group Acquires Nolita Multifamily For $43.9M

The multifamily property located at 21 Spring Street in Nolita has been sold in a closed transaction. The property spans 184,900 square feet and consists of 152 units. The transaction was completed at a price of $43,900,000, resulting in a price per square foot of $237 and a price per unit of $209,322. The buyer of the property is LIHC Investment Group, while the seller is the DeMatteis Organization.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $43,900,000
• Square Footage: 184,900
• Price per Square Foot: $237
• Number of Units: 152
• Price per Unit: $209,322

The individuals involved in this transaction include Michael DeMatteis, Scott DeMatteis, Richard DeMatteis, Alex DeMatteis, Andrew Gendron, and Charlie Gendron. The buyer's representative is LIHC Investment Group, and the seller is represented by the DeMatteis Organization.