The Majesty Portfolio
Greenwich Village | East Village | Little Italy | Upper East Side
Deal Type: Acquisition
Property Types: Mixed Use, Multifamily
Andrew Berry - Director
email@example.com / (212) 589-5124
Adam Spies - Chairman
firstname.lastname@example.org / (212) 841-5903
Adam Doneger - Vice Chairman
email@example.com / (212) 841-5931
Charlie Gravina - Associate
firstname.lastname@example.org / (212) 841-7580
Portfolio Location: Greenwich Village, Upper East Side, East Village, Little Italy
No. Buildings: 7
Total Units: 165
Residential Units: 153
Commercial Units: 12
Portfolio Gross SF: 101,515
Portfolio Occupancy: 99%
Cushman & Wakefield ("C&W") has been exclusively retained to present the opportunity to acquire the fee simple interest in the Majesty Portfolio (the “Portfolio”) – a rare collection of seven mixed-use and multifamily buildings sprawled across New York City’s most desirable neighborhoods. The portfolio consists of 165 units in the highly coveted Greenwich Village, East Village, Little Italy and Upper East Side neighborhoods. Of the 165, 153 Apartments and 12 commercial units. The Portfolio offers investors a rare opportunity to acquire a portfolio that has not traded hands in many decades. The residential portion is majority fair market with future upside through
renovation and operational efficiencies. The commercial units are 100% leased with an average WALT of 4.93 YEARS. The majority of the in-place rents for the commercial are at or below market.
Six out of the seven buildings are ideally situated within the Greenwich Village, East Village and Little Italy neighborhoods with one building located on the Upper East Side. This geographical proximity allows for a new investor to efficiently operate these buildings, further increasing NOI. The Portfolio is anchored by 11 West 8th Street – a 35 unit, mixed-use elevator building located just north of Washington Square Park. It’s accompanied by six walkup buildings at 126 & 128 MacDougal Street, 163 & 165 Mulberry Street, 520 East 11th Street and 334 East 82nd Street. Each building is equipped with a laundry room and in some cases, units have in unit washer/dryer. These best-in-class neighborhoods are the most highly sought after of any in the City providing future ownership with excellent short- and long term fundamentals.
All inquiries should be directed to Cushman & Wakefield.