Jeffrey Gault, representing Perry Gault Management Co., Inc. and partners, has completed the sale of two five-story walk-up apartment houses at 162-164 East 82nd St., located between 3rd and Lexington Aves. This was only the second sale of these properties in 25 years. The two contiguous buildings occupy a plot whose size is 50 x 88, and contains 37 apartments with 99 rooms. The price per s/f was $410, and the sales price was $8.1 million all cash.
The buyer was Silverstone Property Group, represented by Martin Nussbaum, a company that has extensive experience in renovating residential properties. John Nickelsberg represented the seller and Jay Levinton, Esq. of Westerman, Ball, Ederer, Miller & Sharfstein, LLP represented the buyer. The property offering was brought directly to the buyer by Gault in an off-market deal and the transaction closed in 60 days. Tags: