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81 Franklin Street

Updated Oct 6, 2025

Martin Nussbaum And David Schwartz Acquire 81 Franklin Street Multifamily In Tribeca For $30M
SOLDMultiFamily

Martin Nussbaum And David Schwartz Acquire 81 Franklin Street Multifamily In Tribeca For $30M

81 Franklin Street

$30,000,000

$917/SF

Building Size

32,700 SF

Asset Type

MultiFamily

Closing

Sep 29, 2025

About this deal

AI

The multifamily asset at 81 Franklin Street is located in Tribeca, Manhattan. This six-story mixed-use building has a total area of 32,700 square feet and comprises 11 loft apartments along with 2,500 square feet of retail space. The property was sold for $30 million, resulting in a price per square foot of $917.

Summary of transaction details:

Slate Property Group and Avenue Realty Capital acquired the property from Franklin 81 Holdings, which is associated with the Moezinia family. Financing was provided by White Oak Real Estate Capital, and the transaction was brokered by Guthrie Garvin of JLL.

On the Map

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$30,000,000

$917/SF

MultiFamily

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Players

Guthrie Garvin

JLL

Broker

$1B

vol

43 deals

Broker
JLL
JLLBrokerage
Martin Nussbaum

Martin Nussbaum

Slate Property Group

Buyer

$2.2B

vol

30 deals

Buyer
Slate Property Group
Slate Property GroupBuyer
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New York MultiFamily Market Snapshot

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Deal FAQ

About $917 per square foot on a published $30M for 32,700 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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