Luxstone Partners Acquires Multifamily Asset In Hell's Kitchen From SPI Holdings For $13.8M

The property asset involved in the transaction is a multifamily building located at 640-644 10th Avenue in the Hell's Kitchen area of Manhattan. It was sold for a total amount of $13,800,000, comprising 27 units. The total square footage of the asset is 19,372, resulting in a price per unit of $511,111 and a price per square foot of $712.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $13,800,000
• Units: 27
• Square Footage: 19,372
• Price per Unit: $511,111
• Price per Square Foot: $712
• Buyer: Luxstone Partners
• Seller: SPI Holdings
• Broker Representatives: Joseph Koicim, Logan Markley & Chris Dintrone - Marcus & Millichap

The transaction involved key individuals and entities including Luxstone Partners as the buyer and SPI Holdings as the seller. The brokers representing the transaction were Joseph Koicim, Logan Markley, and Chris Dintrone from Marcus & Millichap, fostering the deal that led to the successful sale of the multifamily asset.