NEW YORK—A walk-up apartment building at 40 Morton Street, located between Seventh Avenue South and Hudson Street in the West Village, was sold in an all-cash transaction valued at $5.435 million.
Comprised of five stories that total 8,884 sq. ft. of space, the property has 15 residential units and one lower-level storage space. The apartments are configured as five one-bedroom apartments and 10 two-bedroom units. Of all of the apartments, 14 are rent stabilized; the other is rent-controlled.
“With a short supply of downtown multifamily properties to compete against, we were able to produce almost 20 offers and a fully executed contract for 40 Morton Street in just one month,” said Massey Knakal Director of Sales Brock Emmetsberger who exclusively handled the transaction with Massey Knakal Partner James P. Nelson.