Edifice Partners And JSB Capital Group Acquire Multifamily Portfolio In Manhattan For $38M

The asset involved in the transaction is a multifamily portfolio consisting of 6 buildings located at 329-335 East 9th Street & 516-518 East 13th Street within the Manhattan market. The total sale price for this interest-only East Village Portfolio 3 was $38,000,000, which equates to a price per unit of $622,950. The portfolio comprises 61 units and covers a total area of 49,513 square feet, translating to a price per square foot of $767.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $38,000,000
• Units: 61
• Price Per Unit: $622,950
• Square Footage: 49,513
• Price Per Square Foot: $767
• Buyer: Edifice Partners/Holliswood & JSB Capital Group
• Seller: Kushner Companies
• Brokers: Joe Koicim, Logan Markley, Matt Berger & Zan Colin - Marcus & Millichap

The transaction was executed by the New York Multifamily group, which has successfully managed over $180,000,000 in sales for ownership. The brokers are currently engaged in selling several similar opportunities throughout New York City, with values ranging from $5M to $100M. For inquiries, Joe Koicim can be reached at 212-430-5147 or [email protected].