Four East Side MFs Trade for $16M

NEW YORK CITY-A quartet of walk-up apartment buildings on Manhattan’s Upper East Side has sold for $15.5 million in an all-cash transaction, according to Massey Knakal Realty Services, which arranged the deal. The contiguous properties at 526-46 E. 82nd St. between York and East End avenues were on the market for the first time in 70 years.

“The fact that the buyers closed within 50 days with bank financing demonstrates that there are ready, willing and able buyers and lending institutions that are confident in today’s New York City real estate market,” says Tom Gammiano, VP of sales at Massey Knakal, in a release. Gammiano arranged the transaction with CEO Paul Massey. A company spokeswoman tells GlobeSt.com the properties traded to East 82nd Street Realty LLC, which bought them from Weneeda Realty Corp. and Frahen Realty Corp.