JLL Capital Markets announced today that it has arranged the $44 million sale of a 134-unit multi-housing portfolio comprised of seven buildings located in key Manhattan neighborhoods.
JLL marketed the package on behalf of the seller, a long-term private owner. The buyer was Aya Acquisitions, the investment firm founded Amir Shriki. The purchaser assumed a $15 million CMBS loan and closed the acquisition with $29 million in equity.
Known as the Kokot Portfolio, the package includes 67 St. Marks Pl., 106 East 7th St., 217 East 22nd St., 638-640 East 14th St., 239 West 15th St. and 426 East 77th St.. Totaling approximately 77,000 square feet, 133 apartments and one retail space.
The majority of the properties are situated south of 23rd Street spanning popular residential neighborhoods, which include Chelsea, The East Village and Gramercy. All core Manhattan rental markets that have been in high demand through-out New York City’s post-covid recovery. The neighborhoods feature flexible transportation linkages, abundant night life and amply access to green spaces.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Director Hall Oster and Vice President Teddy Galligan.
“The Portfolio presented a tremendous opportunity to acquire scale throughout core Manhattan rental markets,” said Oster.
“The buildings have been well-maintained featuring great base building conditions with room to implement cosmetic upgrades. The enhancements will add value and drive demand in the portfolio’s supply constrained submarkets,” added Galligan.
