Friedman-Roth.
Manhattan, NY Friedman-Roth Realty Services completed the sale of 133 Ave. D in the East Village neighborhood. The deal closed at a sale price of $8.3 million (or $450 per s/f) with a GRM of 13.9 and a CAP rate of 4.37%.
This property was exclusively listed by Richard Guarino, a partner at Friedman-Roth, on behalf of the seller, Vintage Properties.
The purchaser, Tom Higgins and Dan Shapiro was procured by Joseph Smith of Friedman-Roth.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,