facebook
Traded Co logo
Submit

Meyer Orbach & Josh Gotlib Acquire Multifamily Portfolio In Upper East Side For $825M

Property Image
SOLD
$825,000,000
David Ash
Meyer Orbach
JG

New York

See Similar Deals
MultiFamily850 SF
the dealplayerscompscontact
Property Image
SOLD

Meyer Orbach & Josh Gotlib Acquire Multifamily Portfolio In Upper East Side For $825M

420 East 61st Street

See Similar Deals
MultiFamily850 SF
David Ash
Meyer Orbach
JG
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$970,588
Total Square Footage:850 SF
Transaction Type:Sale

A multifamily property located at 420 East 61st Street, 1113 York Avenue, and 525 East 72nd Street in the Upper East Side has been sold for a total of $825,000,000. The property consists of 858 units, with an average price per unit of $962,000. The total square footage of the property is 850,000, with an average price per square foot of $970.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $825,000,000
  • Units: 858
  • Price Per Unit: $962,000
  • Square Footage: 850,000
  • Price Per Square Foot: $970
  • Market: Upper East Side

The buyer of the property is Meyer Orbach and Josh Gotlib of Go Partners, while the seller is Stefan Solow. Representing the buyer in this transaction is David E. Ash from Walker & Dunlop. It is worth noting that this sale is part of a larger portfolio that also included the closing of 685 1st Ave earlier in the year.

Players

David Ash
Prince Realty Advisors
David Ash
6 deals$1.3B volume(917) 579-6792
BROKER
Meyer Orbach
Black Spruce Management
Meyer Orbach
31 deals$3.3B volume
BUYER
Meyer Orbach
Orbach Group
Meyer Orbach
31 deals$3.3B volume
BUYER
JG
Black Spruce Management
Josh Gotlib
6 deals$1.8B volume
BUYER
GP
GO Partners
BUYER

Details

SOLD
IMAGE: Meyer Orbach & David E. Ash DATE: 11/28/2022 ADDRESS: 420 East 61st Street, 1113 York Avenue & 525 East 72nd Street MARKET: Upper East Side ASSET TYPE: Multifamily BUYER: Meyer Orbach (@Meyerorbach) & Josh Gotlib - Go Partners (@gopartnersdevelopment) SELLER: Stefan Solow BUYER'S REP: David E. Ash - Walker & Dunlop SALE PRICE: $825,000,000 UNITS: 858 ~ PPU: $962,000 SF: 850,000 ~ PPSF: $970 NOTE FROM BROKER: David E. Ash (@thedavidash) at Walker Dunlop (via Prince Realty Advisors) acted as buyer Representative. This transaction was part of a larger portfolio that included 685 1st Ave which closed earlier in the year.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$43,999,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,931,050.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,910,920.90
Annual Debt Service$46,931,050.74