Mitchel A. Maidman Of Townhouse Management Company Sells Multifamily Property In Manhattan For $28M
35 East 63rd Street, 37 East 63rd Street & 39 East 63rd Street
$28,000,000
$466/SF
Building Size
60,000 SF
Asset Type
MultiFamily
Closing
Mar 23, 2026
AI
The property involved in this transaction comprises three multifamily assets located at 35 East 63rd Street, 37 East 63rd Street, and 39 East 63rd Street in Manhattan. The total sale price for the assets amounted to $28,000,000, with a total square footage of 20,000 and a price per square foot of $1,400.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,000,000
- Square Footage: 20,000
- Price per Square Foot: $1,400
- Seller: Mitchel A. Maidman - Townhouse Management Company
- Broker: Thomas Wexler - Leslie Garfield
- Date of Transaction: 03/23/2026
- Market: Manhattan
This transaction involved Mitchel A. Maidman representing Townhouse Management Company as the seller, with Thomas Wexler from Leslie Garfield acting as the broker. Notably, both individuals played significant roles in facilitating the transaction in Manhattan's multifamily market.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93