Hersel Torkian Acquires 20-Unit Multifamily Property On Upper East Side For $5M

A multifamily property located at 242 E. 83rd St. in the Upper East Side of Manhattan has been sold for $5,000,000. The property spans 9,815 square feet, resulting in a price per square foot of $509. It consists of 20 units, with a price per unit of $250,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $5,000,000
• Square Footage: 9,815
• Price per Square Foot: $509
• Number of Units: 20
• Price per Unit: $250,000

The seller of the property was Milton Taube, while the buyer was Hersel Torkian. Ron Solarz and Jonny Yuran, representing NewmarkKF, acted as the brokers in this transaction.