Jambu, Varjan, Steffani and Braun of Lee & Associates NYC broker $18.65 million sale

 

 

Manhattan, NY Vickram Jambu and Chris Varjan, both senior managing director of investment sales, along with directors George Steffani and Jonathan Braun, of Lee & Associates NYC, (LeeNYC) have arranged the sale of  308 West 82^nd St., for $18.65 million to investor Robert White.  

The 25,000 s/f elevator building spans 13 stories and is comprised of 49 studio and one-bedroom apartments, 13 of which were rent regulated.  

Tenants benefit from some amenities including a gym, common rooftop, and laundry. Located between West End and Riverside; the property is near Riverside Park and three blocks from the 79^th St. subway.

“With recent renovations to the common areas, the building provides the new owner an opportunity to add value without having to do much heavy lifting,” said Varjan. “This sale stands to show that despite the new rent regulations, the market is still strong for high quality multifamily buildings that are majority free market.”