May Realty Group Acquires Multifamily Building On Upper West Side For $20M

A multifamily property located at 5 West 91st Street in the Upper West Side neighborhood was recently sold for $20,000,000. The transaction took place on November 24, 2020. The property consists of 48 units, with an average price per unit of $416,666. The total square footage of the property is 48,000, resulting in a price per square foot of $417. The property has a gross rent multiplier (GRM) of 13.8x.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,000,000
• Address: 5 West 91st Street
• Market: Upper West Side
• Units: 48
• Price Per Unit: $416,666
• Total Square Footage: 48,000
• Price Per Square Foot: $417
• GRM: 13.8x

The buyer of the property was May Realty Group, represented by the Zadrima Family. The seller was the Park Family. The transaction was facilitated by Amit Doshi and Shallini Mehra from Team Doshi at Meridian Capital Group.