MADISON REALTY TAKES TWO MULTIFAMILY PROPERTIES FOR $19.3 MILLION

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NEW YORK CITY — Madison Realty Capital has acquired two multifamily buildings located at 216-218 West 22nd St. in Manhattan for $19.3 million. The 27,750-square-foot property consists of two adjacent five-story buildings offering 30 residential units. The properties offer 19 one-bedroom and 11 two-bedroom apartments, as well as a vacant garden-level space that is currently being built-out for commercial use. Anand Melwani of ARM Estate Group represented the buyer, while Christopher Okada and Hiro Iwata of Okada and Company represented the undisclosed seller.

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