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JP Investments Acquires Multifamily Asset At 90 Bedford Street In West Village For $32.7M

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SOLD
$32,700,000

New York

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MultiFamily15,586 SF
Sold 12/04/2025
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SOLD

JP Investments Acquires Multifamily Asset At 90 Bedford Street In West Village For $32.7M

90 Bedford Street

See Similar Deals
MultiFamily15,586 SF
Sold 12/04/2025
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$2,098
Total Square Footage:15,586 SF
Transaction Type:Sale

The multifamily asset located at 90 Bedford Street, known as The Friends Building, was sold for $32,700,000. The property comprises 23 units, offering a price per unit of $1,421,739. With a total square footage of 15,586, the price per square foot amounts to $2,098. The building is situated in the West Village market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $32,700,000
  • Buyer: JP Investments
  • Seller: Joseph Sutton - Wharton Properties
  • Broker: Michael Sherman - Baseline Real Estate Advisors
  • Units: 23
  • Square Footage: 15,586
  • Price Per Unit: $1,421,739
  • Price Per Square Foot: $2,098

Joseph Sutton, representing Wharton Properties, sold the property, while Michael Sherman acted on behalf of Baseline Real Estate Advisors in the transaction. Notably, the apartment building at 90 Bedford Street was used as the exterior location for the iconic television show Friends.

Players

Michael Sherman
45 deals$785.1M volume(631) 235-9741
BROKER

Baseline Real Estate Advisors
BROKERAGE

Jeff Sutton
Wharton Properties
55 deals$5.5B volume
SELLER

Details

SOLD
IMAGE: Joseph Sutton & Michael Sherman DATE: 12/4/2025 ADDRESS: 90 Bedford Street - The Friends Building MARKET: West Village ASSET TYPE: Multifamily BUYER: JP Investments SELLER: Joseph Sutton - Wharton Properties BROKER: Michael Sherman - Baseline Real Estate Advisors (@Baseline_REAdvisors) SALE PRICE: $32,700,000 UNITS: 23 ~ PPU: $1,421,739 SF: 15,586 ~ PPSF: $2,098 NOTE FROM BROKER: The apartment building at 90 Bedford Street was used as the exterior location for the iconic television show Friends.

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$116,176.19
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