New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Avison Young Arranges $51M Portfolio Sale in West Village, Chelsea
Avison Young arranged the sale of three multifamily buildings in Manhattan to Sani Group on behalf of Page Management for a combined $50.5 million. The properties consist of 300 W. 12th St., 240 W. 15th St. and 5 Jones Stt in the West Village and Chelsea neighborhoods.
Both Sani Group and Page Management were represented by Avison Young’s Tri-State Investment Sales team led by James Nelson, principal and head of Tri-State Investment Sales, Brandon Polakoff, David Shalom, Ryan McGuirl, Alexandra Marolda and Ed Nelson, all of the firm’s Manhattan office.
“The multifamily market in Manhattan has seen an increase of 32% in volume between Q1 and Q2 of 2024, with transactions overall up 45% in that same period,” said Nelson. “Avison Young continues to see strong interest and appetite for predominately free-market buildings with opportunity to add value.”
The sale details of each property are as follows:
- 5 Jones St., $7 million, 10,500 square feet, 12 units (with two retail units)
- 300 W. 12th St., $26.5 million, 34,872 square feet, 53 units
- 240 W. 15th St., $17 million, 23,112 square feet, 35 units (with one retail unit)
- ◦Sale/Acquisition
