Michael Chang Sells Multifamily Property In West Village For $5M With Brokers Lev Mavashev & Shai Egison

A multifamily property located at 78-80 Chistopher St. in the West Village was recently sold for $5,000,000. The property spans 12,740 square feet, resulting in a price per square foot of $392. The sale took place on March 26, 2021, and the asset had an asking price of $9,000,000. The property's Gross Rent Multiplier (GRM) is 11x, and the capitalization rate (CAP) is 4.4%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,000,000
• Seller: Michael Chang
• Brokers: Lev Mavashev & Shai Egison - Alpha Realty NY

Lev Mavashev and Shai Egison from Alpha Realty NY represented the seller, Michael Chang, in this transaction.