Monarch Realty Holdings Acquires Multifamily Asset In Manhattan For $8.9M

The multifamily property located at 427 E 80th Street in Manhattan has been sold. The transaction took place on 11/09/2022, with Monarch Realty Holdings purchasing the property from JAM Real Estate Partners, represented by Jared Pinchasick. The sale was facilitated by brokers Eric Karmitz, Alex Marolda, and James Nelson from Avison Young. The property spans 9,300 square feet and was sold for $8,937,500, resulting in a price per square foot of $961.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,937,500
• Date: 11/09/2022
• Address: 427 E 80th Street, Manhattan
• Buyer: Monarch Realty Holdings
• Seller: JAM Real Estate Partners - Jared Pinchasick
• Brokers: Eric Karmitz, Alex Marolda, and James Nelson - Avison Young
• Square Footage: 9,300
• Price Per Square Foot: $961

The deal involved key individuals and companies in the real estate industry. Monarch Realty Holdings emerged as the buyer of the multifamily property, with JAM Real Estate Partners, represented by Jared Pinchasick, acting as the seller. Facilitating the transaction were brokers Eric Karmitz, Alex Marolda, and James Nelson from Avison Young, who provided their expertise and representation to ensure a successful sale.