Murray Hill rental building trades for $44M

Residential landlord Vito Sacchetti buys 68-unit property at 153 East 32nd Street for $700 psf

New York /
Aug.August 27, 2014 09:00 AM

Residential landlord Vito Sacchetti paid $43.7 million, or about $700 per square foot, for a 68-unit Murray Hill rental building, The Real Deal has learned.

The 62,188-square-foot property is located at 153 East 32nd Street, between Lexington and Third avenues. All the units at the property, which has a doorman and an elevator, are free market.

Sacchhetti was represented in the deal by Marcus & Millichap’s Peter Von Der Ahe, Joseph Koicim, David Lloyd and Corey Isdaner. The seller, an entity listed as Super Trust, was represented by Rosewood Realty Group’s Aaron Jungreis. Koicim said that Sacchetti recently sold a property in the Bronx, and was looking to undertake a 1031 tax-deferred exchange. Jungreis declined to comment.

The asking price was $52.5 million, or about $844 per square foot. The property’s current net operating income is $1.54 million, according to Marcus & Millichap.

In April, Lloyd Goldman’s BLDG Management paid $126 million for a 191-unit rental complex at Nearby 222 East 39th Street.


Related Articles

arrow_forward_ios
43 Greenway Terrace in Forest Hills (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Zillow)
TRD Pro: Queens’ top 10 neighborhoods for Q3 home sales
TRD Pro: Queens’ top 10 neighborhoods for Q3 home sales
667 Kent Avenue and 25 Hooper Street in Williamsburg (Google Maps, Getty)
Nap Industries’ Williamsburg warehouses sale tops mid-market deals
Nap Industries’ Williamsburg warehouses sale tops mid-market deals
120 East 39th Street (Hotels, Getty)
Short-term rental company taking over Midtown hotel
Short-term rental company taking over Midtown hotel
Street Partnership's Dan Biederman with Herald Square
“We’re not alarmed:” Herald Square retail in reverse
“We’re not alarmed:” Herald Square retail in reverse
A photo illustration of Times Square (iStock)
Retail asking rents show signs of recovery
Retail asking rents show signs of recovery
Kevin Lalezarian and 567 Third Avenue (Google Maps)
Lalezarian has big plans in Murray Hill
Lalezarian has big plans in Murray Hill
Nelson Lee and Eric Anton of Marcus & Millichap (REBNY)
Karaoke and bees: Marcus & Millichap wins REBNY’s most “ingenious deal”
Karaoke and bees: Marcus & Millichap wins REBNY’s most “ingenious deal”
123 East 35th Street (Streeteasy)
Listed for first time in 40 years, Murray Hill mansion asks $33M
Listed for first time in 40 years, Murray Hill mansion asks $33M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...