Aryeh Realty pays $6M for 8-unit rental property in Yorkville

Aryeh Realty through the entity 1711 NYC LLC paid Maryann Sarlitto, co-trustee of the selling entity, $6.2 million for 1711 2nd Avenue in Yorkville. The deal closed on November 1, 2019, and was recorded on November 15, 2019. The transaction consists of 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 8 residential units. The property is 7,300 square feet. The parcel(s) have total development potential of 18,756 square feet.
The average sale price per square foot is $328.
The estimated cap rate is 8.7%

Direct link to Acris document. link
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