Sean Lefkovits & Lance Lefkovits Of SL Property Group Acquire Multifamily Asset For $9M

The asset involved in the transaction is a multi-family property located at 40-42 West 87th Street in the Upper West Side market. The sale was completed for a price of $9,000,000, encompassing 20 units, and providing a price per unit of $450,000. The total square footage of the property is approximately 14,500, with a price per square foot calculated at $620.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $9,000,000
• Units: 20
• Price per Unit: $450,000
• Square Footage: 14,500
• Price per Square Foot: $620
• Buyer: Sean Lefkovits & Lance Lefkovits - SL Property Group
• Brokers: David Schechtman, Henry Barnathan & Jonathan (Jon) Schwartz - Meridian Capital Group

The buildings were previously sold in 2016 for $18 million. SL Property Group signed a hard contract in one week at $9 million. The buyers are also under contract on several other properties in Manhattan and are actively acquiring more properties in the range of $5 million to $100 million in Manhattan and Brooklyn. Notably, the properties consist of two adjacent tax class protected buildings with 45 feet of frontage.