Carlyle & ZG Property Group Acquires Multifamily Property In New York City For $97.5M

The multifamily property located at 8 Marcy Avenue in New York City has been sold for a total of $97,500,000. The property consists of 123 units, equating to an average price per unit of $792,683. The total square footage of the property is 73,396, with a price per square foot of $1,328.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $97,500,000
• Address: 8 Marcy Avenue, New York City
• Units: 123
• Price per Unit: $792,683
• Square Footage: 73,396
• Price per Square Foot: $1,328

The buyer, Carlyle & ZG Property Group, acquired the property from Prospect Development, represented by Joel Wertzberger and Konstantin Gubareff. The sale was facilitated by a team of brokers consisting of Ethan Stanton, Brendan Maddigan, Michael Mazzara, Stephen Palmese, Winfield Clifford, Jay Leshinsky, Jeffrey Julien, Rob Hinckley, and Steven Rutman from JLL.