Migdal Management Purchases Multifamily Property From Pilar Spraggins For $7.7M In Lenox Hill

The assets involved in the transaction consist of two residential walkup buildings located at 345 and 347 East 78th Street in Lenox Hill, Manhattan. The sale price for the properties amounted to $7,700,000, which translates to a price per unit of $226,471 for the total of 34 units. The combined building square footage is 20,432, with a price per building square foot of $377, and a total square footage of 16,250, offering a price per square foot of $474.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,700,000
• Buyer: Migdal Management
• Seller: Pilar Spraggins
• Total Units: 34
• Building Square Feet: 20,432
• Price Per Unit: $226,471
• Price Per Building Square Foot: $377
• Total Square Feet: 16,250
• Price Per Square Foot: $474

The transaction was executed where Migdal Management acquired the properties from Pilar Spraggins, adding to their portfolio of multifamily real estate investments. This deal showcases Migdal Management's strategic interest in the Lenox Hill market, further enhancing their presence in this urban area.