Atlas Capital Group Acquires Manhattan Multifamily Portfolio For $142.5M

The property asset involved in this transaction is a multifamily building located at 250 West 19th Street, 31 East 31st, 344 East 63rd Street, 451 East 83rd Street, 309 West 30th Street, 434 West 19th Street, 337 West 30th St., 345 West 30th Street, 425 East 84th Street, 445 East 83rd Street, and 162 East 61st Street in Manhattan. The sale took place for a total price of $142,500,000. The property consists of 637 units with a price per unit (PPU) of approximately $223,705. The total square footage of the building is 497,362 with a price per square foot (PPSF) of $287.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $142,500,000
• Units: 637
• PPU: $223,705
• Total Square Footage: 497,362
• PPSF: $287

The buyers in this transaction are Andy Ochen and Jeff Goldberger of Atlas Capital Group. The seller is Stephen A. Schwarzman of Blackstone Group. The broker representing the transaction is Helen Hwang of Meridian Capital Group.