Empire State Realty Trust Acquires 620-Unit Multifamily Asset In Upper East Side And Far West Side For $307M

The sold multifamily property located at 345 East 94th Street and 561 Tenth Avenue in the Upper East Side and Far West Side markets has been transacted for a total price of $307,000,000. The property consists of 620 units with an approximate price per unit of $495,161. It spans across 480,000 square feet, resulting in a price per square foot of $639.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $307,000,000
• Units: 620
• Price per Unit: $495,161
• Square Footage: 480,000
• Price per Square Foot: $639
• Address: 345 East 94th Street & 561 Tenth Avenue
• Market: Upper East Side & Far West Side

The buyer in this transaction is Empire State Realty Trust represented by Anthony Malkin and Aaron Ratner, while the seller is AIG Global Real Estate represented by Doug Tymins and Fetner Properties represented by Hal Fetner, Damon Pazzaglini, and Alex Fetner.

The deal was facilitated by the brokers Brett Siegel, Evan Layne, Jean Celestin, and Bill Lee from Newmark.