Albert Dauti Acquires Multifamily Property At 514 East 81st Street From The Pappas Family For $3.2M

The asset involved in this transaction is a multifamily property located at 514 East 81st Street in the Upper East Side market. The property was sold for $3,200,000, comprising 15 units. The total square footage of the asset is 9,630, with a price per unit of $213,333 and a price per square foot of $332.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,200,000
• Units: 15
• Square Footage: 9,630
• Price Per Unit: $213,333
• Price Per Square Foot: $332
• Buyer: Albert Dauti
• Seller: The Pappas Family
• Brokers: Richard Parsons & Stephen Shapiro - Citadel Realty Services
• Cap Rate: 4.5%

Richard Parsons and Stephen Shapiro represented the buyer, Albert Dauti, in this transaction, facilitating the sale on behalf of the buyer while ensuring all transactions were conducted efficiently.