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A blog for breaking sales and neighborhood real estate news.

Four six-story walk-up apartment buildings at 526-46 East 82nd Street, located on the south side of East 82nd Street between York and East End Avenues, sold in an all cash transaction valued at $15,500,000.

The subject properties, which traded for the first time in 70 years, contain 106 residential units and one commercial unit. The 59,000 square foot (approx.) property contains 74 free market units, 22 rent stabilized units, and 10 rent controlled units with average rents of approximately $33/sq.ft. There are 88 two-bedroom units, 17 one-bedroom units and one studio. The sales price of this post Lehman transaction corresponds to $263 per square foot, a 6.8% cap and 9.5 GRM.

Neighborhoods: Upper East Side/ Agents: Paul Massey Jr.