Manhattan, NY HPNY has closed on a $22 million off-market deal on 307-309 Mott St. in the Soho neighborhood.
The five-story walkup building consists of 38 apartments and is located between Bleecker and East Houston Sts. The building is 16,000 s/f with 45 ft. of frontage. The building traded for 18.5 times the current rent roll. The majority of the apartments are one-bedroom units.
307-309 Mott Realty LLC was the seller and the purchaser was 307 Mott Street LLC.
Sean Lefkovits and Ivan Hakimian of HPNY were involved in the deal.