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317 2nd Avenue

Sun Frontier Fudousan Co Acquires Multifamily Asset In Gramercy For $13.5M From Terrence Lowenberg
SOLDMultiFamily

Sun Frontier Fudousan Co Acquires Multifamily Asset In Gramercy For $13.5M From Terrence Lowenberg

317 2nd Avenue & 319 2nd Avenue

$13,500,000

$513/SF

Building Size

26,304 SF

Asset Type

MultiFamily

Closing

Jul 16, 2025

AI

A multifamily asset located at 317-319 2nd Avenue in Gramercy, Manhattan has been sold for $13,500,000. The property encompasses 13,152 square feet and consists of 18 residential units, indicating a price per square foot of $1,026.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $13,500,000
  • Address: 317-319 2nd Avenue
  • Market: Gramercy, Manhattan
  • Square Footage: 13,152
  • Price Per Square Foot: $1,026
  • Buyer: Sun Frontier Fudousan Co
  • Seller: Terrence Lowenberg - Icon Realty Management

Sun Frontier Fudousan Co. is set to utilize the property for cash flow purposes following the acquisition from Icon Realty Management, represented by Terrence Lowenberg.

Players

Terrence Lowenberg

Icon Realty Management

Seller

$301.7M

vol

16 deals

Seller
Icon Realty Management
Icon Realty ManagementSeller

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

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93