Updated Oct 8, 2026
David Shalom Of Avison Young Represents Sale Of Turtle Bay Multifamily For $32.5M
234 East 50th Street
$32,500,000
$631/SF
Building Size
51,506 SF
Asset Type
MultiFamily
Closing
Sep 24, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 234-242 East 50th Street in the Turtle Bay market. The sale price for the property was $32,500,000, encompassing a total square footage of 51,506 with a price per square foot of $630.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $32,500,000
- Square Footage: 51,506
- Price Per Square Foot: $630
- Address: 234-242 East 50th Street
- Market: Turtle Bay
- Broker: David Shalom - Avison Young
Key individuals involved in this transaction include David Shalom, who represented the seller through Avison Young, playing a critical role in the completion of the sale process.
On the Map
$32,500,000
$631/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93