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

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:

• Property Type: Multifamily
• Transaction Amount: $30,000,000
• Address: 81 Franklin Street
• Market: Tribeca, Manhattan
• Buyer: Martin Nussbaum & David Schwartz - Slate Property Group; Udi Kore - Avenue Realty Capital
• Seller: Franklin 81 Holdings
• Broker: Guthrie Garvin - JLL
• Square Footage: 32,700
• Price Per Square Foot: $917

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.