ABJ Properties Acquires East Village Multifamily Portfolio For $61.8M

A multifamily property located at 89 Clinton St., 115 & 117 Ave. A, 186, 188 & 222 Ave. B, 330 East 6th St. & 117 First Ave. in the East Village neighborhood of Manhattan has been sold. The property consists of 61 units with a total square footage of 53,723. The sale price for this portfolio was $61,772,180, resulting in a price per unit of $1,012,658 and a price per square foot of $1,149.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $61,772,180
• Address: 89 Clinton St., 115 & 117 Ave. A, 186, 188 & 222 Ave. B, 330 East 6th St. & 117 First Ave.
• Market: East Village, Manhattan
• Buyer: ABJ Properties - Ben Soleimani & Joe Soleimani
• Seller: Centennial Properties NY
• Brokers: Seth Glasser, Joe Koicim, Logan Markley & Matt Berger - Marcus & Millichap

The buyer of the property is ABJ Properties, represented by Ben Soleimani & Joe Soleimani. The seller is Centennial Properties NY. The brokers involved in this transaction are Seth Glasser, Joe Koicim, Logan Markley, and Matt Berger, all from Marcus & Millichap.

It is important to note that the portfolio originally consisted of 14 buildings with a list price of $121,130,000. However, NYM was able to successfully sell 8 of the properties for $61,772,180 to a single purchaser. The portfolio underwent a full renovation and features condo-level finishes. All units in the portfolio were 100% Free Market. For more information on similar assets currently available for sale, interested parties can contact Joe Koicim at [email protected] or via mobile at 516-425-2785.