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Metro Management sells five-building multifamily portfolio for $27M

Cushman & Wakefield has arranged the sale of five multifamily properties from The Metro Portfolio for a total of $27,050,000.

Robert M. Shapiro, Nicholas Kontos, Andrew Berry, Michael Gembecki,
Charlie Gravina and Austin Fabel represented the seller, Metro Management, in the transactions.


“These properties are part of The Metro Portfolio, a rare collection of 13 residential and mixed-use properties along the west side of Manhattan,” said Shapiro. “We received significant interest in these multifamily properties, as they are located in some of Manhattan’s most desirable neighborhoods.”

329-333 WEST 55TH STREET

320-326 and 329-333 West 55th Street are two rent regulated, four-story multifamily properties located on West 55th Street in Hell’s Kitchen. The buildings consist of 63 apartments and span 27,522 square feet. Cushman & Wakefield also represented the buyer in this transaction. The assets sold for
$11,550,000.

357 West 22nd Street and 359 West 22nd Street (pictured top) are two adjacent five-story townhomes situated on West 22nd Street between Eighth and Ninth avenues in Chelsea. The properties consist of 10 floor- through residential units that total 11,250 square feet. Cushman & Wakefield also represented the buyer, Parke Leatherman of Lockhill Properties, in this transaction. The assets sold for $8,000,000.

335 West 19th Street is a 14,540 s/f, rent regulated multifamily building located on West 19th Street between Eighth and Ninth avenues in Chelsea. The four-story, 45-unit property consists of one two-bedroom and 44 studios. The property sold for $7,500,000.

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