383 West End Avenue
383 West End Avenue is a small multifamily asset on the Upper West Side of Manhattan, a highly liquid and supply-constrained submarket with strong long-term demand fundamentals. The price per square foot of approximately $2,195 is consistent with current Upper West Side small-building multifamily comps, reflecting a premium location but also the compressed yield environment typical of this neighborhood. At an estimated cap rate of approximately 3.8%, the deal offers limited current income yield but reasonable long-term appreciation upside given the address quality and scarcity of sub-$6M Manhattan multifamily product. Both buyer and seller appear to be private individuals with limited publicly verifiable transaction histories, introducing moderate party risk relative to institutional counterparties. From a lending perspective, the deal is structurally clean with no apparent distress indicators, but the small building size, compressed cap rate, and thin operator track record warrant conservative underwriting and conservative LTV assumptions.
Deal Stats
Parties
Seller / Landlord
Francis Wing On Tsang appears to be a private individual seller with limited publicly documented transaction history in NYC real estate; the name suggests a private owner-investor disposition rather than a professional developer or institutional exit.
Buyer / Tenant
Gerold Niggemann appears to be a private investor active in the Manhattan multifamily market; limited public transaction history suggests this may be one of a small number of NYC acquisitions, consistent with a high-net-worth individual buyer rather than an institutional operator.
Score Analysis
Why this score
Prime Upper West Side Location
The neighborhood offers strong long-term demand fundamentals and high liquidity, providing stable appreciation potential and exit optionality despite current yield compression.
Compressed Cap Rate (3.8%)
The sub-4% yield severely limits current cash-on-cash returns and offers minimal margin for error on operating assumptions or market downturns.
Private Buyer & Seller Profile
Both parties lack significant documented transaction histories, introducing execution risk and suggesting this may be a less sophisticated transaction with potential for unforeseen complications.
Small Multifamily Asset Size
Limited unit count restricts operational leverage, economies of scale, and refinancing flexibility compared to larger buildings in the submarket.
Market Price Alignment
The $2,195/sf valuation tracks current Upper West Side comps, indicating fair pricing but offering no discount opportunity for value creation.
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.
Secure institutional co-investment or anchor tenant
Partner with an experienced operator or secure long-term lease(s) to offset the small building risk and strengthen lender confidence.
Identify value-add repositioning strategy
Document specific renovation, rent optimization, or operational efficiency plans that could push the effective cap rate from 3.8% to 4.5%+, materially improving returns.
Reduce financing risk with equity cushion
Target conservative LTV (≤65%) given buyer inexperience and small asset size, improving deal resilience and lender comfort.
Raw Deal Textclick to expand
traded + Submit RE Growing Financial Partnerships For Over 30 Years. Get Started Home Deals New York Multifamily Sale 383 West End Avenue Share SOLD MultiFamily Gerold Niggemann Acquires Multifamily Property At 383 West End Avenue For $5.27M $5,267,500 $2,194/SF BUILDING SIZE 2,400 SF ASSET TYPE CLOSING Jun 22, 2026 Overview Market Deal Summary Caption AI Gerold Niggemann acquired a multifamily property located at 383 West End Avenue in Manhattan's Upper West Side for $5,267,500. The property has a total area of 2,400 square feet, indicating a price per square foot of $2,195. The deal was finalized on June 22, 2026. Summary of transaction details: Property Type: MultiFamily Transaction Amount: $5,267,500 Address: 383 West End Avenue Market: Upper West Side, Manhattan Square Footage: 2,400 Price Per Square Foot: $2,195 Buyer: Gerold Niggemann Seller: Francis Wing On Tsang This transaction involved Gerold Niggemann acting as the buyer and Francis Wing On Tsang as the seller. The involved parties ensure the deal aligns with the market conditions and property attributes of the Upper West Side area in Manhattan. PLAYERS Upper West Side MultiFamily Market Snapshot Neighborhood boundary · MultiFamily · Sale transactions Full Market → Comps Listings Map Investors 10 Top Brokers Lenders Loading comparables… Live NEARBY MARKETS NEIGHBORHOODS Long Island City Central Old Astoria Midtown South West Clinton Midtown Lincoln Square Yorkville Upper East Side East Harlem South Central Harlem South Central Harlem North-Polo Grounds Morningside Heights 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