Jared Pinchasick pays $6M to Paley Management for multifamily property in Yorkville

Jared Pinchasick through the entity JAM 422E81 LLC paid Paley Management’s 422 Realty Equities, LLC $6.3 million for 422 East 81st Street in Yorkville. The deal closed on December 10, 2019, and was recorded on December 13, 2019. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 20 residential units. The property is 11,000 square feet. The parcel(s) have total development potential of 11,000 square feet.
The sale price per unit is $312,500..
The estimated cap rate is 3.5%

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link