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Penn South Capital Acquires Multifamily Portfolio From Galil Management For $40 Million In Manhattan

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SOLD
$40,000,000

New York

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MultiFamily38,609 SF
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SOLD

Penn South Capital Acquires Multifamily Portfolio From Galil Management For $40 Million In Manhattan

260 Elizabeth Street, 262 Elizabeth Street, 264 Elizabeth Street, 266 Elizabeth Street & 268 Elizabeth Street

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MultiFamily38,609 SF
Sold
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1036
Total Square Footage:38609 SF
Transaction Type:Sale

The asset involved in this transaction consists of a multifamily property located at 260 Elizabeth Street, 262 Elizabeth Street, 264 Elizabeth Street, 266 Elizabeth Street, and 268 Elizabeth Street in Manhattan. The sale price was $40,000,000, with a total of 48 units, leading to a price per unit of $833,333. The total square footage of the property is 38,609, resulting in a price per square foot of $1,036.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $40,000,000
  • Units: 48
  • Price Per Unit: $833,333
  • Square Footage: 38,609
  • Price Per Square Foot: $1,036
  • Buyer: Penn South Capital
  • Seller: Galil Management
  • Brokers: Aaron Jungreis, Alex Fuchs & Ben Khakshoor - Rosewood Realty Group

The individuals involved in this transaction include Aaron Jungreis, Alex Fuchs, and Ben Khakshoor, who represented the brokers from Rosewood Realty Group. They played a significant role in facilitating the deal between the buyer, Penn South Capital, and the seller, Galil Management.

Players

Aaron Jungreis
200 deals$4.3B volume(212) 359-9900
BROKER

Ben Khakshoor
Rosewood Realty Group
130 deals$1.9B volume(212) 359-9913
BROKER

Alex Fuchs
Rosewood Realty Group
98 deals$1.9B volume
BROKER

Penn South Capital
BUYER

Details

SOLD
IMAGE: Aaron Jungreis, Ben Khakshoor & Alex Fuchs DATE: 3/10/2026 ADDRESS: 260 Elizabeth Street, 262 Elizabeth Street, 264 Elizabeth Street, 266 Elizabeth Street & 268 Elizabeth Street MARKET: Manhattan ASSET TYPE: Multifamily BUYER: Penn South Capital SELLER: Galil Management BROKERS: Aaron Jungreis (@AaronJungreis), Alex Fuchs (@AlexFuchs1) & Ben Khakshoor (@BenKhak) - Rosewood Realty Group (@RosewoodRG) SALE PRICE: $40,000,000 UNITS: 48 ~ PPU: $833,333 SF: 38,609 ~ PPSF: $1,036

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$189,620.41
Annual Debt Service$2,275,444.88