Sabet Group Acquires Multifamily Property At 502 East 12th Street For $4.275M

The asset involved in the transaction is a multifamily property located at 502 East 12th Street in the East Village market. The sale price was $4,275,000 for a total of 10 units, averaging a price per unit of $427,500. The property has a total square footage of 6,250, resulting in a price per square foot of $684.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,275,000
• Units: 10
• Price per Unit: $427,500
• Square Footage: 6,250
• Price per Square Foot: $684
• Buyer: Sabet Group
• Broker: Michael F. DeCheser - Cushman & Wakefield

The deal involved Sabet Group as the buyer, with representation from Michael F. DeCheser of Cushman & Wakefield managing the transaction. This reflects the active role of the broker in facilitating the sale within the multifamily market context.