Global Holdings Management Group Acquires 56-Unit Multifamily Building In Gramercy, Manhattan

Global Holdings Management Group, represented by Peter Allen, has acquired the 56-unit residential building located at 51 Irving Place in Gramercy, Manhattan. The property was sold by Springhouse Partners, with Adam Verner representing the seller. The sale price for this multifamily asset was $30.7 million. The building spans over 42,476 square feet and has additional air rights, allowing for a total buildable area of 47,551 square feet.

Summary of Transaction Details

• Property Type: Multifamily
• Sale Price: $30,698,553
• Address: 51 Irving Place, Gramercy, Manhattan
• Market: Gramercy, Manhattan
• Buyer: Global Holdings Management Group - Peter Allen
• Seller: Springhouse Partners - Adam Verner
• Units: 56
• Price per Unit (PPU): $548,188
• Building Square Footage (BSF): 47,551
• Price per BSF (PPBSF): $646
• Total Square Footage (SF): 42,476
• Price per Square Foot (PPSF): $723

This transaction involved Global Holdings Management Group securing ownership of the property, while Springhouse Partners acted as the selling party. The sale of this multifamily asset marks a significant deal in the Gramercy market, with a sale price of $30.7 million. Peter Allen, representing Global Holdings Management Group, played a pivotal role as the buyer's representative in the transaction, ensuring a successful acquisition.