Kushner Cos. has sold a five-building, 79-unit mixed-use portfolio in the East Village for $41.15 million, according to Marcus & Millichap, which arranged the sale. This is the second transaction by Kushner Cos. in recent months: In December it sold a six-building portfolio for $57 million.
The Marcus & Millichap team of Joe Koicim, Logan Markley, Matthew Berger and Zan Colin of the NYM Group completed both transactions. The buyers were not named.
The 42,465-square-foot portfolio includes two tax-class-protected buildings and is 89% free market, according to Koicim. He adds that the sale "is an indication that capital is coming off the sidelines in pursuit of Manhattan multifamily assets."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.
