The Beekman Estate Acquires Multifamily Property On E. 62nd St. From William Koch For $35.5M

The multifamily property located at 344-348 E. 62nd St. has been sold in a closed transaction. The property was sold by William Koch to The Beekman Estate. The deal was facilitated by brokers Brandon Polakoff and James Nelson of Avison Young. The property was sold for a total price of $35,500,000, resulting in a price per square foot (PPSF) of $985. The capitalization rate (CAP RATE) for the transaction was 2.7%.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $35,500,000
• Address: 344-348 E. 62nd St.
• Seller: William Koch
• Buyer: The Beekman Estate
• Broker: Brandon Polakoff & James Nelson - Avison Young
• Price per Square Foot (PPSF): $985
• Capitalization Rate (CAP RATE): 2.7%

Brandon Polakoff and James Nelson of Avison Young served as the brokers for this transaction, representing both the buyer and the seller. The deal showcases their expertise in the real estate industry and their ability to facilitate successful property transactions.