Fetner Properties Acquires Multifamily Asset On Upper East Side For $63M

The multifamily property located at 501 East 74th Street in the Upper East Side was recently sold for $63,000,000. This property consists of 83 units with a price per unit of $759,036, encompassing a total area of 74,214 square feet. The sale price per square foot stood at $849. The transaction involved Fetner Properties as the buyer and the Ohebshalom Family as the seller. New York Life served as the lender for the deal. The sales brokers for this transaction were Daniel Kaplan and Doug Middleton, while the mortgage brokers were Tom Traynor, Tom Rugg, and Adam Spengler from CBRE.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $63,000,000
• Units: 83
• Square Footage: 74,214
• Address: 501 East 74th Street
• Market: Upper East Side

In this transaction, the key individuals involved were the sales brokers Daniel Kaplan and Doug Middleton. The mortgage brokers who facilitated the loan were Tom Traynor, Tom Rugg, and Adam Spengler from CBRE. Fetner Properties acted as the buyer, while the Ohebshalom Family served as the seller. New York Life provided the financing for the deal.