Osaka Biso Co Purchases Multifamily Property In Gramercy From Seiichi Saito For $20.4M

The multifamily asset located at 317 2nd Avenue and 319 2nd Avenue in Gramercy, Manhattan, was sold for $20,400,000. The total built square footage (BSF) is 25,613, which equates to a price per built square foot (PPBSF) of $796. The property encompasses a total square footage (SF) of 13,152, resulting in a price per square foot (PPSF) of $1,551.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,400,000
• Buyer: Osaka Biso Co
• Seller: Seiichi Saito - Sun Frontier Fudousan Co
• BSF: 25,613
• PPBSF: $796
• SF: 13,152
• PPSF: $1,551

Osaka Biso Co., through Osaka Biso Co., Ltd, acquired the 18-unit residential walkup at the specified addresses from Sun Frontier Fudousan Co. This transaction reflects a strategic investment in the Manhattan multifamily market.