West Village Multifamily Property Sells for $9.95M

Benjamin Newman purchases 2 1/2 Grove Street from Alison C. Gaskin for $9.95M

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West Village Multifamily Property Sells for $9.95M

Benjamin Newman has acquired a multifamily property located at 2 1/2 Grove Street in the West Village, Manhattan for 9,950,000 from Alison C. Gaskin. The property has a building square footage of 3,523 and a price per building square foot of 2,824. The lot size is 1,024 square feet and the property is zoned C1-6. The last sale price was $7,300,000 in 2013.

The property is a 3-story walk-up building with 6 residential units. The building has a lot dimension of 20.83 ft x 49.17 ft and a floor area ratio (FAR) of 2.02. The property is classified as tax class 1.

The property was last altered in 2012 with Alteration 1 permits. The property is located in a highly desirable area of the West Village, known for its charming streets and historic architecture. The property is within walking distance to numerous restaurants, cafes, and shops, as well as public transportation options.

The buyer, Benjamin Newman, is a real estate investor with a portfolio of properties throughout Manhattan. The seller, Alison C. Gaskin, is a private individual who has owned the property since 2013. The brokers involved in the transaction were not disclosed.

The sale of this property reflects the continued demand for multifamily properties in desirable areas of Manhattan. The West Village is known for its high-end properties and strong rental demand, making it a popular area for real estate investors. The sale price of 9,950,000 represents a significant increase from the last sale price of 7,300,000 in 2013, indicating the strength of the market in this area.