Midwood Investment & Development Acquires Multifamily Property In West Village For $100M

Midwood Investment & Development has acquired a multifamily property located at 56 Seventh Avenue in the West Village neighborhood. The transaction, which took place on March 15, 2022, involved the sale of the property by BlackRock for a total price of $100,000,000. The asset consists of 160 units with an average price per unit (PPU) of $625,000. The property spans a total of 142,204 square feet, resulting in a price per square foot (PPSF) of $703.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $100,000,000
• Address: 56 Seventh Avenue
• Market: West Village
• Buyer: Midwood Investment & Development
• Seller: BlackRock
• Brokers: Adam Spies, Adam Doneger, Avery Silverstein & Willis Robbins - Cushman & Wakefield
• Units: 160
• PPU: $625,000
• SF: 142,204
• PPSF: $703

The transaction was facilitated by brokers Adam Spies, Adam Doneger, Avery Silverstein, and Willis Robbins from Cushman & Wakefield. Their expertise played a crucial role in finalizing the deal between Midwood Investment & Development and BlackRock.