Efficiency Capital Advisors pays $10.2M to Ventura family for 10-unit rental in Yorkville

Tokyo-based Efficiency Capital Advisors through the entity Creas, Inc. paid Ventura family’s 312 E 83 LLC $10.2 million for 312 East 83rd Street in Yorkville. The deal closed on November 30, 2020 and was recorded on January 7, 2021. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 10 residential units. The property is 8,395 square feet. The parcel(s) have total development potential of 8,395 square feet.
The average sale price per square foot is $1,213.

The buyer is a Japanese firm with major holdings in New York City, according to its website. The Ventura family acquired the property in 1980. The contract date was August 25, 2020. The buyer is in care of New York Real Estate Advisors.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $914,000.

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