Avison Young sells final three multifamily buildings in Page Management’s Manhattan portfolio for a combined $50.5M

Page Management's Manhattan portfolio October 2, 2024

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)

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2024 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 13 consecutive years.

For more information:

  • Download property photos here.

Media contact:

  • Nathan Reyna, Regional Media Relations & Content Specialist, Northeast: +1.917.877.1697