Success Story – New York Multifamily

Selling Manhattan Trophy Properties for $100,000,000 + During the Pandemic

In spring 2020, NYC was the national epicenter of COVID-19. And while people and the city are starting to recover, the economic and real estate impacts of the pandemic are still being felt. All property operators, sellers, and buyers are affected by recent changes and have questions about how to navigate the obstacles and opportunities of the real estate landscape right now.

NYM GroupFebruary 4, 2021

Market Insights Success Story

50% Stabilized Asset Sells for $8,000,000 in NoLita

New York City’s NoLita neighborhood is a desirable area for multifamily owners because it's an epicenter of young professionals, high-end stores, and trendy restaurants. With proximity to surrounding neighborhoods, like SoHo and the East Village, NoLita is a very attractive location for renters.

NYM GroupMarch 5, 2020

Market Insights Success Story

$29,000,000 Greenpoint Sale Sets Price-Per-Unit Record

When rent law reform was passed in the summer of 2019, rent-stabilized investments immediately became more complicated to multifamily owners. The demand for free-market units increased, and the sale of 105-115 Greenpoint Avenue is the perfect example of that shift in today’s real estate climate

NYM GroupJanuary 28, 2020

Market Insights Success Story

Boston Buyer Diversifies Portfolio with $22,000,000 West Village Property

New York’s West Village is a coveted neighborhood for buyers, and 162 West 13th Street is a great multifamily asset in this popular area. This corner building houses 36 rental units (32 residential and four commercial) and was previously owned by one family for many years.

NYM GroupNovember 26, 2019

Success Story

How Steve Sold in Harlem, Doubled his Cash Flow, and Reduced Management

Foreign capital has always influenced the New York City market. They love it. Once while walking a foreign investor through the Upper East Side, we passed two identical buildings: the first, 100% occupied and the other, vacant with boarded up windows. The out-of-town investor looked at the vacant building and said "maybe I should buy that one..." assuming a discounted price. This is one of the nuances of the NYC multifamily market: vacant buildings are often more valuable than occupied because they are not encumbered by leases. As one client…

NYM GroupApril 4, 2017