(Read more on the multifamilymarket.)
NEW YORK CITY-The Parc Lincoln at 164 W. 75th St. in Manhattan'sUpper West Side has sold for $32.8 million to a purchaser named 164W. 75th St LLC. The sale price was $400 per sf and represented aprojected 5.2% cap rate.
The seller was Margules & Associates. The 16-story prewarelevator property contains 214 residential units and a ground-floorretail space occupied by the Cesca restaurant. The property wasoriginally a single-room occupancy, however, to date, 100 unitshave been converted to class A apartments.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.