East Group Capital Acquires 25-Unit Multifamily Building In Manhattan For $7M With Itay Gamlieli & Ofir Badash

East Group Capital, LLC, represented by Itay Gamlieli and Ofir Badash, has acquired a multifamily property located at 215 W 109th Street in Manhattan. The property consists of 25 units with a total square footage of 14,754. The sale price for this transaction was $7,000,000, resulting in a price per unit of $280,000 and a price per square foot of $474.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,000,000
• Address: 215 W 109th Street
• Market: Manhattan
• Buyer: East Group Capital, LLC - Itay Gamlieli & Ofir Badash
• Brokers: Josh Lipton - Invictus Property Advisor & Max Ralby - HKS Real Estate Advisors
• Units: 25
• Price per Unit: $280,000
• Square Footage: 14,754
• Price per Square Foot: $474

215 West 109 St is an excellent purchase for East Group Capital. The building closed at an ongoing cap rate of 5.8%. The property offers tremendous upside potential as 70% of the apartments are FM units, with none of them renovated and some still at Covid rent rates. East Group Capital is actively seeking value-add deals in Manhattan and interested parties can reach out to [email protected] with new opportunities.