Rony Kravel Acquires Multifamily Property In East Village For $12.4M

The property at 306 East 5 Street, located in the East Village market, was recently sold in a closed transaction. The multifamily asset, zoned as R8B, was purchased by Rony Kravel from Adrian Slywotzky for a total price of $12,400,000. The building has a total square footage (SF) of 18,453, with a price per square foot (PPSF) of $671. The building comprises 16,476 buildable square feet (BSF), resulting in a price per buildable square foot (PPBSF) of $752. The lot size is 4,119 square feet, with dimensions of 42.83 ft x 96.17 ft. The sale transaction took place on November 19, 2021 and falls under tax class 2. A permit for alteration 2 was issued on August 22, 2016.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $12,400,000
• Market: East Village
• Zoning: R8B
• SF: 18,453
• PPSF: $671
• BSF: 16,476
• PPBSF: $752
• LOT SIZE: 4,119 square feet
• LOT DIMENSION: 42.83 ft x 96.17 ft
• PERMITS: Alteration 2 (08/22/2016)

The buyer, Rony Kravel, acquired the property from the seller, Adrian Slywotzky. The transaction has a floor area ratio (FAR) of 4.48, indicating the allowable floor area relative to the lot size. The property falls under tax class 2, which denotes multifamily residential buildings.