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CBSK Developers Acquires 36-Unit Multifamily Building In Turtle Bay, Manhattan For $34.5M

Property Image
SOLD
$34,500,000

New York

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MultiFamily38,720 SF
Sold 06/14/2023
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Property Image
SOLD

CBSK Developers Acquires 36-Unit Multifamily Building In Turtle Bay, Manhattan For $34.5M

930 1st Ave. New York, NY 10022, USA

See Similar Deals
MultiFamily38,720 SF
Sold 06/14/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$891
Total Square Footage:38,720 SF
Transaction Type:Sale

CBSK Developers, represented by Scott Shnay, has acquired a multifamily property located at 930 First Avenue in Turtle Bay, Manhattan. The property consists of a 36-unit residential elevator building and was sold by Giorgio Angelini for a total price of $34,500,000. This transaction took place on June 14, 2023.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $34,500,000
  • Address: 930 First Avenue
  • Market: Turtle Bay, Manhattan
  • Buyer: CBSK Developers - Scott Shnay
  • Seller: Giorgio Angelini
  • Units: 36
  • Price per unit: $958,333
  • Building square footage: 75,770
  • Price per building square footage: $455
  • Total square footage: 38,720
  • Price per square footage: $891

The sale of the property provides CBSK Developers with an opportunity to expand their real estate portfolio in Turtle Bay, Manhattan. This acquisition adds 36 residential units to their holdings and allows for a total buildable area of 75,770 square feet, including an additional 37,051 square feet of air rights. This transaction demonstrates CBSK Developers' commitment to investing in the multifamily market in Turtle Bay.

Players

Scott Shnay
Scott Shnay
9 deals$113M volume
BUYER
Scott Shnay
Scott Shnay
9 deals$113M volume
BUYER

Details

SOLD
IMAGE: Scott Shnay DATE: 06/14/2023 ADDRESS: 930 First Avenue MARKET: Turtle Bay, Manhattan ASSET TYPE: Multifamily BUYER: CBSK Developers - Scott Shnay SELLER: Giorgio Angelini SALE PRICE: $34,500,000 UNITS: 36 ~ PPU: $958,333 BSF: 75,770 ~ PPBSF: $455 SF: 38,720 ~ PPSF: $891 NOTE: CBSK Developers has acquired a 36-unit residential elevator building at 930 1st Avenue in Turtle Bay, Manhattan, for $34.5 million from Giorgio Angelini. The property encompasses 38,720 square feet of built space and has an additional 37,051 square feet of air rights, allowing for a total buildable area of 75,770 square feet.

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