Sherman of Baseline RE completes $10.3 million sale

New York, NY Michael Sherman, founder of Baseline Real Estate Advisors has completed the sale of 111 E 38th St. The building sold for $10.3 million. The 15,035 s/f elevator building contained 20 apartments and was 40 feet wide.

The sale price equates to $515,000 per unit and $685 per s/ff. Sherman and Josh Geller of YLG Realty were the sole brokers on the transaction.

“We were pleased to find a purchaser who was looking to add to their portfolio in one of the most sought-after neighborhoods in Manhattan. This was a rare opportunity to purchase a mostly vacant 40 foot wide elevator building” said Michael Sherman.

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