Alpha Realty Arranges $7M Sale of Mixed-Use Building in Upper East Side

by David Cohen

NEW YORK CITY — Alpha Realty has brokered the sale of a 10,000-square-foot multi-use building in the Upper East Side of Manhattan for $7 million. The property, located at 148 East 98th St., is a newly constructed six-story elevator building with 11 apartments and one commercial unit. The property sold at a capitalization rate of 3.4 percent. Lev Mavashev and Glenn Raff of Alpha Realty brokered the transaction with Raff representing the seller, a local private investor. Mavashev procured the buyer, Rebar Development Group.

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