Manhattan, NY Alan Stenson of New York City based investment sales brokerage firm Brax Realty has completed the sale of 228 East 25th St. in Kips Bay for $4.4 million.

The +/- 8,160 s/f apartment building was located between 2nd Ave. and 3rd Ave. and had a total of 12 units. Stenson represented both the seller, a long term owner and also procured the purchaser, a group of private investors. This was the first time the property traded hands in over 45+ years. The purchase price equated to a price per s/f of $539 and a price per unit of $366k. The building was sold with 9 of the 12 units vacant and was 75% free market.

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