Tokyo-based Efficiency Capital Advisors pays $8.5M to Winther Investment for multifamily property in East Village

Tokyo-based Efficiency Capital Advisors through the entity Creas, Inc. paid Steven Gautier-Winther of Winther Investment’s 418 East 9th LLC $8.5 million for 418 East 9th Street in East Village. The deal closed on September 20, 2019, and was recorded on November 19, 2019. The transaction consists of 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 13 residential units. The property is 9,474 square feet. The parcel(s) have total development potential of 9,474 square feet.
The sale price per unit is $651,538.
The estimated cap rate is 3.1%
The last time the property sold was August 21, 2013, for $6,100,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $204,300.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link