Chestnut Holdings Acquires 74 East 116th Street Multi Family In Manhattan For $5.4M

The property located at 74 East 116th Street in New York City has been sold in a closed transaction. The multi-family asset spans a total of 21,000 square feet. It consists of 25 units, including 22 residential units and 3 retail spaces. The property was sold for a price of $5,400,000, resulting in a price per square foot of $257. The buyer, Jonathan Wiener’s Chestnut Holdings, acquired the property from the seller, BFC Partners – Donald Capoccia. The transaction amounted to $216,000 per unit.

Summary of transaction details

• Property Type: Multi Family
• Transaction Amount: $5,400,000
• Square Footage: 21,000 sf
• Price per Square Foot: $257
• Units: 25 (22 Residential, 3 Retail)
• Price per Unit: $216,000

Chestnut Holdings, represented by Jonathan Wiener, purchased the property from BFC Partners – Donald Capoccia in Manhattan's real estate market.