Updated Jan 5, 2026
Osaka Biso Co Purchases Multifamily Property In Gramercy From Seiichi Saito For $20.4M
317 2nd Avenue & 319 2nd Avenue
$20,400,000
$775/SF
Building Size
13,152 SF
Asset Type
MultiFamily
Closing
Dec 22, 2025
About this deal
AI
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.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93