Nilesh S Shah Acquires Multi Family Property In Yorkville, Manhattan For $12.7M

The property involved in this transaction is a multi-family building located at 425 East 80 Street in the Yorkville neighborhood of Manhattan. The property has a zoning classification of R8B and offers a total of 23,568 square feet. The market value of the property is $12,700,000, with a price per square foot of $539. The buyer, Nilesh S Shah, purchased the property from the seller, Mark D Kalimian. The transaction took place on October 29, 2021.

Summary of transaction details

• Property Type: Multi Family
• Transaction Amount: $12,700,000
• Address: 425 East 80 Street, Yorkville, Manhattan
• Zoning: R8B

The property has a buildable square footage (BSF) of 20,432, resulting in a price per buildable square foot (PPBSF) of $622. The lot size is 5,108 square feet, with dimensions of 25 ft x 102.17 ft. The property falls under tax class 2. The previous sale of the property took place on November 9, 2015 with a recorded sale price of $0.

It's important to note that the property's floor area ratio (FAR) is 4.61, indicating the relationship between the total floor area of the building and the size of the lot it occupies. This transaction represents a significant investment in the Yorkville market, highlighting the ongoing interest in multi-family properties in the area.