(To read more on the multifamily market, click here.)
NEW YORK CITY-Locally based Campar Realty Co. LLC has sold the 45-unit apartment building at 140 E. 17th St. for $15.4 million. An unidentified local real estate investor picked up the Gramercy Park property.
Eastern Consolidated's Eric Anton and Ronald Solarz and Jared Toothman represented the seller, while Eastern Consolidated's Brian Ezratty represented the buyer.
"Because of its stellar location, excellent condition, and pre-war status, we were successful in obtaining a sales price in line with today's heady investment sales numbers," says Anton, in a statement. 140 E. 17th St. is situated three blocks from Gramercy Park and two blocks from Union Square.
The property contains one- and two-bedroom units, with 66 % of the units operating as rent stabilized. Solarz says the new owner plans to maintain the property as a rental facility due to the slow-down in the condo market that is spreading across the nation.
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