Reggie Kronstadt Acquires Multifamily Property In Midtown East For $12M

The multifamily property located at 300 East 50th Street in Midtown East has been sold for a total price of $12,000,000. The property has a building square footage (BSF) of 46,400, with a price per BSF of $258. The total square footage (SF) of the property is 13,595, with a price per SF of $882. The property consists of 22 units, with a price per unit (PPU) of $600,000. The property has a zoning designation of C1-9 and a floor area ratio (FAR) of 2.93. The tax class is 2. The lot size is 4,661 square feet, with lot dimensions of 58 feet by 80 feet. The property has previously undergone an alteration type 2 permit on September 4, 2007.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,000,000
• Market: Midtown East
• Address: 300 East 50th Street
• Zoning: C1-9
• BSF: 46,400
• PPBSF: $258
• SF: 13,595
• PPSF: $882
• Units: 22
• PPU: $600,000
• FAR: 2.93
• Tax Class: 2
• Lot Size: 4,661
• Permits: Alteration type 2 (09/04/2007)
• Lot Dimensions: 58 ft x 80 ft

Reggie Kronstadt has purchased the property from Anne Evans & Bradley Wilson for a total price of $12,000,000.