Houlihan Parnes Partners Sell Murray Hill Building for $13.4M
Two partners at Houlihan Parnes Realtors have sold a Murray Hill building to a doctor who buys and holds real estate for $13.4 million, Commercial Observer has learned.
The sale of the six-story elevator building at 28-30 East 38th Street between Park and Madison Avenues was brokered exclusively by Amit Doshi of Besen & Associates. The building has 23 apartments and a dentist’s office. Erected in 1900, the building is 20,110 square feet. Nearly half of the apartments are rent-stabilized. The average apartment rent in the building is $2,176 per month.
The individual sellers, who Besen declined to name, represented themselves in the deal, which closed at the beginning of the month. The deal appeared in public records on Oct. 15.
Houlihan Parnes Realtors, headquartered in White Plains, is a privately owned real estate company founded in 1891. It owns multi-family and commercial buildings throughout the country and handles sales, leasing, management, finance, servicing and consulting services.
“With almost half of the apartments still under rent stabilization, the purchaser saw enough upside potential to justify the purchase price of this fine asset,” Mr. Doshi said in a prepared statement.