Slate Property Group Acquires Multifamily Property On Upper East Side For $78M

A multifamily property located at 231 East 76th Street and 340 East 52nd Street in the Upper East Side has been sold for a total price of $78,000,000. The property consists of 150 units with an average price per unit of $520,000. It spans a total area of 133,000 square feet, resulting in a price per square foot of $586. The transaction took place on May 31, 2022.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $78,000,000
• Address: 231 East 76th Street and 340 East 52nd Street, Upper East Side
• Market: Upper East Side
• Buyer: Slate Property Group - Martin Nussbaum & Fortress Investment Group
• Seller: Blackrock
• Seller's Representative: William Shanahan, Daniel Kaplan, Justin Arzi & Ryan Silber - CBRE

The buyer of the property is Slate Property Group represented by Martin Nussbaum and Fortress Investment Group. The seller in this transaction is Blackrock. The seller was represented by William Shanahan, Daniel Kaplan, Justin Arzi, and Ryan Silber of CBRE.