SOLD
Black Spruce Management Acquires Multifamily Asset In Murray Hill For $850M
626 1st Avenue
MultiFamily
922,780 SF
922,780 SF
Sold 1 year ago
Summary
Sale
NEW YORK
MultiFamily
922,780 sqft
The multifamily property located at 626 1st Avenue in Murray Hill is currently in contract for sale. The transaction involves a sale price of $850,000,000, with a square footage of 922,780. This amounts to a price per square foot of $921. The property consists of 760 units, and the price per unit is $1,118,421.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $850,000,000
- Address: 626 1st Avenue
- Market: Murray Hill
- Zoning: C4-6
The buyer of the property is Black Spruce Management, while the seller is Michael Stern of JDS Development Group and Baupost Group. The deal was facilitated by Doug Harmon, Adam Spies, Adam Doneger, Marcella Fasulo, and Michael Collins of Cushman & Wakefield.
Players
All
7
Agents
5
Agencies
2
Details
SOLD
IMAGE: - IN CONTRACT
IMAGE: Adam Spies, Doug Harmon, Michael Stern, Adam Doneger, Marcella Fasulo & Michael Collins
DATE: 12/2021
ADDRESS: 626 1st Avenue
MARKET: Murray Hill
ASSET TYPE: Multifamily ~ ZONING: C4-6
BUYER: Black Spruce Management
SELLER: Michael Stern - @JDSDevelopmentGroup & Baupost Group
BROKERS: Doug Harmon, Adam Spies, Adam Doneger (@ADoneger), Marcella Fasulo (@MMFasulo) & Michael Collins - Cushman & Wakefield (@CushWake)
SALE PRICE: $850,000,000
SF: 922,780 ~ PPSF: $921
UNITS: 760 ~ PPU: $1,118,421View on map
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Address626 1st Avenue
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