TriArch Management paid $23M to Adama Holdings LLC

TriArch Management through the entity 2785 Broadway LLC paid Adama Holdings LLC $22.6 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 83 residential units at 2783 Broadway in Upper West Side. The deal closed on August 07, 2019 and was recorded on August 22, 2019. The parcel(s) have total development potential of 119,768 square feet.
The sale price per unit is $272,289.
The estimated cap rate is 2.6%

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $32,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link