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The East Side Elevator Portfolio, consisting of five trophy assets on the east side of Manhattan, has been sold in transactions with an aggregate value of $126,250,000. The portfolio features one property in the East Village and four properties on the Upper East Side and consists of 267 units.
The portfolio consists of 264 residential units, two commercial units, and one professional unit totaling approximately 144,043 square feet.  Of the 264 units, 196 are fair market while 68 are rent stabilized.  The unit mix consists of 59 studios, 152 one-bedrooms, 28 two-bedrooms, 19 three-bedrooms, and six four-bedrooms.  The properties represent some of the most premier assets within their respective locations.
“The multifamily sector has always been the most active in the city and today is no different. The interest in these properties was from every corner of the globe and from a widespread array of buyer types,” said Massey Knakal Chairman Bob Knakal, who exclusively handled the transactions with Thomas D. Gammino, Jr., Guthrie Garvin, and Michael DeCheser.

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Photo 1: 176 East 3rd Street
Photo 2: 344 East 85th Street
Photo 3: 420 East 66th Street