Michael Ferrara and Alan Stenson of New York City based investment sales brokerage firm Brax Realty has completed the sale of 305 East 21st St. in Gramercy for $8 million.

The 50’ wide, +/- 21,356 s/f apartment building was located between 2nd Ave. and 1st Ave. and had a total of 37 units. Ferrara and Stenson represented both the seller, a long term owner and also procured the purchaser, a private investor. This was the first time the property traded hands in over 35+ years. The purchase price equated to a price per s/f of $374 and a price per unit of $216k. The building was sold with 6 of the 37 units delivered vacant.

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