Empire State Realty Trust Acquires Multifamily Property In Noho For $114.9M

The multifamily property located at 298 Mulberry Street in Noho has been sold in a transaction worth $114,900,000. The property consists of 96 units, with a price per unit of $1,196,875. The total square footage of the property is 65,241, and the price per square foot is $1,761. The buyer of the property is Empire State Realty Trust, while the sellers are Broad Street Development and Crow Holdings Capital. The sale was facilitated by the brokers Andrew Scandalios, Rob Hinckley, Jeffrey Julien, and Steven Rutman from JLL.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $114,900,000
• Units: 96
• Price per Unit: $1,196,875
• Square Footage: 65,241
• Price per Square Foot: $1,761
• Market: Noho
• Buyer: Empire State Realty Trust
• Seller: Broad Street Development & Crow Holdings Capital
• Brokers: Andrew Scandalios, Rob Hinckley, Jeffrey Julien & Steven Rutman - JLL

Andrew Scandalios, Rob Hinckley, Jeffrey Julien, and Steven Rutman from JLL played crucial roles as the representatives of the buyer and sellers in this transaction. They worked together to ensure a successful deal for all parties involved.