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
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