Peculic Family Sells 24-Unit Rent Stabilized MultiFamily In New York City For $3.9M

The Peculic Family has successfully sold a 24-unit rent stabilized building located at 32-78 Steinway Street in New York City. The multi-family property was sold for a price of $3,900,000, resulting in a per unit price of $162,500. The property spans over 13,200 square feet, equating to a price per square foot of $295. This transaction was facilitated by Marc Richter from Commerce Realty Group.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $3,900,000
• Address: 32-78 Steinway Street, New York City
• Number of Units: 24
• Per Unit Price: $162,500
• Square Footage: 13,200
• Price per Square Foot: $295

Marc Richter, representing Commerce Realty Group, played a pivotal role in the successful sale of this property. The transaction achieved a 6.5% CAP rate, marking an exciting new beginning for Commerce Realty Group. For further collaboration opportunities, interested parties can reach out to Commerce Realty Group.