Benedict Realty Group (BRG) closed on the sale of 321 East 22nd Street in Gramercy Park this week as GID Investment Advisors purchased the property for $31 million. HFF marketed the property on behalf of the seller and announced the sale today.
The 117-unit, six-story multi-housing property in Manhattan was 96% leased at the time of sale. The property also includes 6,000 square feet of commercial space, currently occupied by Synergy Fitness. Under the deal, a source from the Great Neck, NY-based firm says in an e-mail that the company plans to renovate the lobby and common hallways of the 117-unit, mixed-use apartment building as part of the acquisition according to a GlobeSt.com article. Rents in the building range from $2,750 to $4,500, according to StreetEasy.com.
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