Owemanco Purchases Multifamily Asset At 51-57 West 8th Street For $8.8M With Meridian Capital Group

The multifamily property located at 51-57 West 8th Street in Greenwich Village has been sold for $8,800,000. This asset consists of 34 units and encompasses a total square footage of 18,750, which results in a price per unit of $258,824 and a price per square foot of $469. The building has a reported cap rate of 8.05% and is noted to be 98% rented.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,800,000
• Units: 34
• Square Footage: 18,750
• Price Per Unit: $258,824
• Price Per Square Foot: $469
• Cap Rate: 8.05%

Owemanco is the buyer of the property, while the brokers involved in the transaction are Jonathan Schwartz, David Schechtman, and Abie Kassin from Meridian Capital Group. Contact Jonathan Schwartz for inquiries regarding how Meridian can add value to your listings.