Located in the vibrant East Village neighborhood of Manhattan, the multifamily property at 47 East 7th Street has been sold in a recent transaction. The property features a total of 24 units, offering a diverse range of living options. The sale price for this prime asset was recorded at $14,450,000, resulting in an average price per unit of $602,083. Spanning across 16,400 square feet, the property holds immense potential for residents seeking a convenient and spacious living environment. With a price per square foot of $881, this multifamily property presents an enticing investment opportunity in the East Village market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $14,450,000
• Units: 24
• Price Per Unit: $602,083
• Total Square Feet: 16,400
• Price Per Square Foot: $881
• Market: East Village, Manhattan

The successful completion of this transaction was made possible by the involvement of key individuals and companies. Representing the buyer, Platinum Properties' Steven Evans showcased his expertise in guiding clients towards lucrative investment opportunities. On the seller's side, Michael Kerwin and Aaron Jungreis of Rosewood Realty Group acted as trusted advisors, assisting Robert Morgenstern in navigating the intricacies of the sale. Their extensive industry experience and negotiation skills ensured a smooth and satisfactory deal for all parties involved.