Sfikas Family Acquires Multifamily Property In Yorkville For $11.3M

The multifamily property located at 525 East 88th Street in Yorkville has been sold for a price of $11,348,000. The property spans 21,500 square feet, resulting in a price per square foot of $528. The capitalization rate for this transaction stands at 4.3%. The seller of the property was Michael Adler, while the buyer was the Sfikas Family. The deal was facilitated by brokers Amit Doshi, Shallini Mehra, and Jonathan Shainberg.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $11,348,000
• SF: 21,500
• PPSF: $528
• CAP: 4.3%
• Seller: Michael Adler
• Buyer: Sfikas Family
• Brokers: Amit Doshi, Shallini Mehra & Jonathan Shainberg

The property, located just half a block from Gracie Mansion, offers a desirable location in Yorkville.