City Urban Realty Acquire Multifamily Property At 244 West 72nd Street For $40M

The property asset involved in the transaction is a multifamily building located at 244 West 72nd Street in the Upper West Side market. The sale price for this asset was $40,000,000, encompassing 88,750 square feet, which equates to a price per square foot of $450.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $40,000,000
• Address: 244 West 72nd Street
• Market: Upper West Side
• Square Footage: 88,750
• Price per Square Foot: $450
• Buyer: City Urban Realty - Michael Alvandi & Harry Hochman
• Seller: The Ohebshalom Family

The deal was facilitated by City Urban Realty, represented by Michael Alvandi and Harry Hochman, who focus on acquiring value-add multifamily and retail assets in Manhattan south of 96th Street, prime Brooklyn, and the gold coast of Long Island. They are actively seeking new investment opportunities with a deal size ranging from $2 million to $150 million, and are eager to connect with brokers, principals, and lenders.