Fred Lavi Acquires Multifamily Development In East Harlem For $6.1 Million From Parkview Financial

The property involved in this transaction is a multifamily asset located at 308 East 106th Street in the East Harlem market. The transaction was completed at a sale price of $6,100,000 for a property with a total square footage of 21,636, resulting in a price per square foot of $281.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,100,000
• Address: 308 East 106th Street
• Market: East Harlem
• Square Footage: 21,636
• Price per Square Foot: $281
• Buyer: Fred Lavi
• Seller: Parkview Financial
• Broker Representation: Daniel O'Brien, Ronald Solarz, Eric Roth, Harry James, Christine Felling & Maurice Suede - Newmark

This transaction involved multiple brokers representing the parties in the deal, highlighting the combined efforts of Daniel O'Brien, Ronald Solarz, Eric Roth, Harry James, Christine Felling, and Maurice Suede from Newmark. The deal was characterized as a foreclosure auction sale of a 60% complete stalled multifamily development, indicating specific challenges and opportunities associated with the asset.