A multifamily property located at 63 West 104th Street in Manhattan Valley was recently sold for $21,500,000. The property consists of 34 units, with an average price per unit of $632,352. The total area of the property is approximately 30,000 square feet, resulting in a price per square foot of $716. The capitalization rate for this transaction is 5.5%.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $21,500,000
• Units: 34
• Price per Unit: $632,352
• Square Footage: 30,000
• Price per Square Foot: $716

The buyer of this property is REDA Holdings 104th, while the seller is the Orbach Group, owned by Meyer Orbach, who is also the owner of the Timberwolves. The deal was brokered by Sam Schertz of Schuckman Realty Inc., representing the Orbach Group. For more information, reach out to Sam directly at [email protected].

Special thanks go to Herrick Feinstein and new partner Jason Goldstoff for their work on the transaction. Additionally, the debt team at Walker Dunlop, represented by David Rosenberg and Mark Silbersher, arranged the financing for the deal.