47 Jane Street
This is a clean, institutional-quality multifamily acquisition in one of Manhattan's most supply-constrained and desirable neighborhoods, the West Village, where multifamily assets command strong rental premiums and consistent investor demand. The $928/SF pricing is broadly in line with recent West Village multifamily comps, and the $425,000 per-unit figure reflects the boutique scale and premium location of the asset. The transaction involves credible, identified principals on both sides with no disclosed distress, liens, litigation, or foreclosure risk, making the credit profile straightforward. The buyer's track record is modest but consistent with a focused private acquirer, and broker representation on both sides by experienced local market participants adds transaction credibility. The primary underwriting risk lies in the relatively low comparable sales liquidity in this niche submarket and the potential for rent-stabilized unit mix, which could compress achievable cap rates and limit upside.
Deal Stats
Parties
Seller / Landlord
The Miller Family Trust appears to be a long-term private holder of West Village multifamily real estate, likely a legacy ownership structure typical of generational NYC real estate families. The use of Compass broker Udi Eliasi for representation indicates a market-rate disposition with no apparent distress signals.
Buyer / Tenant
Lockhill Properties is a private real estate investment firm active in New York City multifamily acquisitions, with a demonstrated track record of acquiring well-located residential assets in core Manhattan submarkets. Their engagement of Kevin Esh, a broker with $78.3M in deal volume across 7 transactions, suggests a professional and repeat-transaction approach to deal sourcing.
Score Analysis
Why this score
Prime West Village Location
West Village is Manhattan's most supply-constrained submarket with strong rental premiums and consistent institutional investor demand, supporting asset fundamentals.
Experienced Broker Representation
Both sides represented by proven local brokers (Kevin Esh with $78.3M track record, Udi Eliasi at Compass), indicating transparent market-rate transaction execution.
Unknown Rent-Stabilization Exposure
Potential rent-stabilized unit mix is not disclosed but could significantly compress achievable cap rates and limit value-add upside in this acquisition.
Limited Comparable Sales Liquidity
Niche boutique-scale multifamily in West Village has thin comp set, creating pricing validation challenges and exit strategy risk for institutional investors.
Clean Credit Profile
No disclosed distress, liens, litigation, or foreclosure risk with institutional buyer and legacy family seller reduces transaction and operational risk.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Detailed Rent Roll & Stabilization Analysis
Disclose exact percentage of rent-stabilized vs. market-rate units and average rents by category to quantify achievable cap rate and identify rent-growth constraints.
Capital Improvement & Value-Add Plan
Present specific repositioning strategy (unit upgrades, amenity enhancements, or market-rate conversion roadmap) to offset rent-stabilization headwinds and define realistic return targets.
Buyer Track Record Detail
Expand on Lockhill Properties' acquisition history with specific examples of West Village/Manhattan deals, exit timelines, and realized returns to strengthen confidence in execution.
Raw Deal Textclick to expand
traded + Submit RE Growing Financial Partnerships For Over 30 Years. Get Started Home Deals New York Multifamily Sale 47 Jane Street Share SOLD MultiFamily Lockhill Properties Acquires MultiFamily At 47 Jane Street From Miller Family For $8.5M $8,500,000 $928/SF BUILDING SIZE 9,155 SF ASSET TYPE CLOSING Jun 15, 2026 Overview Players Market Deal Summary Caption AI The property sold is a multi-family asset located at 47 Jane Street in the West Village, Manhattan. The transaction was completed at a sale price of $8,500,000, comprising 20 units. The property features a square footage of 9,155, resulting in a per unit price of $425,000 and a price per square foot of $928. Summary of transaction details: Property Type: MultiFamily Transaction Amount: $8,500,000 Address: 47 Jane Street Market: West Village, Manhattan Units: 20 Price Per Unit: $425,000 Square Footage: 9,155 Price Per Square Foot: $928 Buyer: Lockhill Properties Seller: Miller Family Buyer's Representative: Kevin Esh Seller's Representative: Udi Eliasi - Compass Kevin Esh represents Lockhill Properties in this transaction, facilitating the acquisition from the Miller Family, who were represented by Udi Eliasi of Compass. The sale reflects a strategic move in the multi-family market within this affluent Manhattan neighborhood. PLAYERS All Brokers Buyers | Sellers Kevin Esh BROKER $78.3M VOL 7 deals Contact Udi Eliasi Compass $13.9M 3 deals LP Lockhill Properties BUYER MT Miller Family Trust SELLER New York MultiFamily Market Snapshot Boundary boundary · MultiFamily · Sale transactions Comps Listings Map Investors Top Brokers Lenders Loading comparables… Live NEARBY MARKETS NEIGHBORHOODS Williamsburg Commercial District Greenpoint Williamsburg Fort Greene Downtown Brooklyn Submarket Brooklyn Heights-Cobble Hill Financial District Downtown West Commercial District Chinatown Lower East Side East Village Midtown South West BOROUGHS Staten Island Bronx Queens Manhattan Brooklyn CITIES Paterson Hackensack Bayonne Paramus East Orange Hoboken Newark Clifton Jersey City West New York Linden Fort Lee STATES North Carolina Virginia West Virginia Michigan Massachusetts Pennsylvania Vermont South Carolina New Hampshire District of Columbia New Jersey We are telling CRE's story Traded is the #1 source for cutting-edge CRE transactions & insights. 1M+ DEALS 100K+ USERS 47 MARKETS 1.2M+ FOLLOWERS Browse Closings by State National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Minnesota Mississippi Missouri Montana Nebraska Nevada New Mexico North Dakota Ohio Oklahoma Oregon Rhode Island South Dakota Tennessee Texas Utah Washington Wisconsin Wyoming Search News Agents Agencies About About Us FAQ Testimonials Help Help Center Pricing Return Policy Follow a feed NY @tradedny MIA @tradedmiami LA @tradedla CHI @tradedchicago BOS @tradedboston DAL @tradeddallas NJ @tradednj 18.2K The Traded Weekly Every major deal & ranking update — Friday mornings. Email © 2026 Traded Media LLC · All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use