Mangan Family Acquires 11-Unit Multifamily In New York City For $4.75M

The Mangan Family has acquired a multifamily property located at 332 East 74th Street in New York City. The property was sold by the Hupert Family in a transaction facilitated by Thomas Gammino and Patrick Donahue of B6 Real Estate Advisors. The sale, which closed on April 20, 2023, had a purchase price of $4,750,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,750,000
• Address: 332 East 74th Street, New York City
• Market: New York City

The multifamily property consists of 11 units with an average price per unit of $431,818. The total square footage of the property is 9,440, resulting in a price per square foot of $503. The cap rate for this transaction is 4.4%.

Thomas Gammino and Patrick Donahue, representing B6 Real Estate Advisors, served as the brokers for the deal. Their expertise and negotiation skills played a crucial role in the successful completion of the transaction.