The properties are comprised of 100 residential apartments across 68,484-sf

New York, NY – Avison Young has arranged the sale of three multifamily buildings in Manhattan to Sani Group on behalf of Page Management for a combined $50.5 million. The properties consist of 300 West 12th Street, 240 West 15th Street, and 5 Jones Street in the West Village and Chelsea neighborhoods.

Both Sani Group and Page Management were represented by Avison Young’s Tri-State Investment Sales team led by James Nelson, Principal and Head of Tri-State Investment Sales, Brandon Polakoff, David Shalom, Ryan McGuirl, Alexandra Marolda, and Ed Nelson, all based in the firm’s Manhattan office.

“The multifamily market in Manhattan has seen an increase of 32% in volume between Q1 and Q2 of 2024, with transactions overall up 45% in that same period. Avison Young continues to see strong interest and appetite for predominately free market buildings with opportunity to add value,” said Nelson.

The sale details of each property are as follows:

• 300 West 12th Street, $26.5 million, 34,872-sf, 53 units
• 240 West 15th Street, $17 million, 23,112-sf, 35 units (with one retail unit)
• 5 Jones Street, $7 million, 10,500-sf, 12 units (with 2 retail units)