Newmark has been retained on an exclusive basis to arrange for the sale of the Manhattan Multifamily Collection (“the Portfolio” or “the Assets”), comprised of three pristinely maintained multifamily assets located in two of the most desirable neighborhoods in Manhattan, Chelsea and the Upper East Side.

The Portfolio is made up of 150 residential apartments and 6 retail units across approximately 106,000 square feet. The residential portion of the Portfolio is 93% free market with a varied unit mix comprised of 15 studios, 92 one bedrooms, 31 two bedrooms, and 12 three bedrooms. Unit sizes vary from efficient studios to 1,200 square foot three bedrooms with an average rent per square foot of $103. The Portfolio has been meticulously maintained by an institutional owner for over a decade leaving little to no deferred maintenance for future ownership.

The Assets offer the opportunity to acquire scale with strong in-place cash flow in two of the most prominent residential neighborhoods of Manhattan. 165-173 East 90th Street are 5 contiguous buildings located between Lexington and Third Avenues on the Upper East Side while 237-239 9th Avenue and 118-122 West 23rd Street are located a few blocks apart in prime Chelsea. All three assets provide access to a variety of subway lines including the 4, 5, 6, C, E, 1, F and M trains.

The Offering is available as both a portfolio or on an individual asset basis. All inquires should be directed to Newmark.