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RXR Realty Acquires Multifamily Building In Dumbo From CIM Group & LIVWRK For $220M

85 Jay Street
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This MultiFamily property located in NY was sold for $220,000,000 almost 3 years ago. The brokers of the deal were Marcella Fasulo, Douglas (Doug) Harmon, Adam Spies, Michael J Collins, Daniel (Dan) O'Brien, and Adam Doneger

A multifamily property located at 85 Jay Street in Dumbo has been sold for approximately $220,000,000. The property consists of 320 units, resulting in a price per unit of $687,500. The sale took place on April 13, 2021.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $220,000,000
  • Address: 85 Jay Street
  • Market: Dumbo

The buyer of the property was RXR Realty, while the sellers were CIM Group and LIVWRK. The deal was facilitated by brokers Adam Spies, Adam Doneger, Doug Harmon, Marcella Fasulo, Michael Collins, and Dan O'Brien, representing Cushman & Wakefield.

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Deals
  • Location
    85 Jay Street, Dumbo, Brooklyn, NY, USA85 Jay Street, Dumbo, Brooklyn, NY, USA
  • Sale Price
    $220,000,000$220,000,000
    $71,289 PPSF$71,289 PPSF
  • Area
    3,086 SF3,086 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    6 Brokers, 2 Agencies6 Brokers, 2 Agencies

Agents

Michael J Collins

Michael J Collins

Deals10
Sold$4.3B

Marcella Fasulo

Marcella Fasulo

Deals45
Financed$10.9B

Douglas (Doug) Harmon

Douglas (Doug) Harmon

Deals80
Financed$22.4B

Daniel (Dan) O'Brien

Daniel (Dan) O'Brien

Deals82
Financed$2.4B

Adam Spies

Adam Spies

Deals146
Financed$30.2B

Adam Doneger

Adam Doneger

Deals93
Financed$20.9B

Agencies

Newmark

Newmark

Agency
Deals3894
Volume$397.4B

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4190
Volume$167B

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Deal Summary

SALE IMAGE: Adam Spies, Asher Abehsera, Scott Rechler, Shaul Kuba, Avi Shemesh & Doug Harmon DATE: 04/13/2021 ADDRESS: 85 Jay Street MARKET: Dumbo ASSET TYPE: Multifamily BUYER: @RXR_Realty SELLER: @CIMGroup & @LIVWRK BROKERS: Adam Spies, Adam Doneger (@ADoneger) Doug Harmon, Marcella Fasulo, Michael Collins and Dan O'Brien - Cushman & Wakefield SALE PRICE: $220,000,000 (approx.) UNITS: 320 ~ PPU: $687,500

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85 Jay Street

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