Oak B Management Acquires Midtown East Multifamily For $41.5M

Located in Midtown East, the property at 246 East 46th St. & 959-961 Second Ave. has been sold in a recent transaction. The multifamily asset consists of 98 units spread across 82,006 square feet. The sale price for the property was $41,500,000, resulting in a price per unit of $423,469 and a price per square foot of $506.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $41,500,000
• Units: 98
• Price per Unit: $423,469
• Square Footage: 82,006
• Price per Square Foot: $506

Oak B Management, represented by Josh Aaron, acted as the buyer in the transaction. On the other hand, JT Tai & Company, represented by Clint Olsen, Bob Knakal, Jonathan Hageman, and Stephen Godnick from JLL, served as the seller. The involvement of these key individuals and companies played a significant role in successfully completing the deal.