JLL Capital Markets announced that it has completed the $8.7 million sale of 121 East 37th St., an 8,850-square-foot multihousing building in New York’s Murray Hill neighborhood.
JLL represented the seller. Kay-Medix acquired the newly renovated and restored, five-story property.
The property, constructed in 1920, contains 11 free-market residential units available for short- and medium-term durations. The property features furnished units, an elevator, on-site laundry and dynamic views.
121 East 37th St. is located between Park Avenue and Lexington Avenue on the border of Midtown East / Murray Hill. The neighborhood is home to numerous amenities, including a variety of restaurants, sights, shopping and entertainment. The building offers easy access to Grand Central Station and the 4, 5, 6 and 7 subway lines.
Managing Director Clint Olsen of JLL Capital Markets represented the seller in the transaction. The buyer was represented by B6 Real Estate Advisors.
“The property just underwent a total renovation, with high-end finishes,” Olsen said. “That coupled with all FM units, this was a great opportunity for an owner/investor.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
