New York & Tri-State + Apartments | April 22, 2021

West Village Apartments Trade in Off-Market Deal

78-80 Christopher St. in the West Village has traded in an off-market transaction brokered by Alpha Realty’s Lev Mavashev and Shai Egison. The five-story multifamily building sold for $5 million, representing a 4.4% cap rate and $392 per square foot.

Located between Bleecker Street and Seventh Avenue, 78-80 Christopher consists of 15 apartments. Alpha Realty’s team represented both parties. The seller was a long-term local owner who wanted a quick and quiet sale, and the buyer was a local owner looking to grow his Village portfolio.

Mavashev and Egison have been active in brokering off-market deals recently. Earlier this spring, they sold 310 E.89th St. on Manhattan’s Upper East Side for the Verni family, also in an off-market deal.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).