Murray Hill Parking Garage
Parking / net lease property in New York, NY — sponsored by Syndicated Equities
Files with the SEC as SE 333 E. 34TH (NEW YORK) GARAGE, DST
Minimum investment
Not stated
Offering size
$8.9M
How much has sold
14.0%
Asset type
Parking / net lease property
Location
New York, NY
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Murray Hill Parking Garage is a Delaware Statutory Trust — a structure that lets 1031 exchange investors hold fractional interests in real estate — holding a parking-garage condominium on East 34th Street in Manhattan.2 Syndicated Equities reported closing the acquisition on March 1, 2023.3 The Trust is raising under Rule 506(b), the private-placement rule that bars general advertising, and is open to accredited investors.
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The garage was originally developed in 1961 as part of The Devon, a 16-story, 205-unit condominium building, and is held as its own condominium unit.2 It sits on the north side of East 34th Street just west of 1st Avenue, at the border of Murray Hill and Kips Bay, with a ground-level entrance, one underground parking level, and 12 newly installed parking lifts.2 Syndicated Equities reported the purchase closed on March 1, 2023.3
- Reported location
- New York, NY
- Property size
- 92 parking spaces; 14,337 sq ft garage condominium
Who is the tenant, and what's the lease?
Sponsor material from 2023 presents this as a net-lease parking investment and states that City Parking had been operating the garage under a management agreement that terminated at closing.2 That is pre-closing language: the reviewed record does not identify the post-closing operator, lease term, rent, or expiration.
How did it end?
No sale or other ending on record
The Murray Hill Parking Garage at 333 East 34th Street, New York, NY remains listed as currently owned on Syndicated Equities' portfolio (acquired March 2023 per Spring 2023 Access newsletter noting a projected 7-year hold) with no sale or disposition found in sponsor materials, SEC EDGAR, or trade press.
Parking garage condominium originally built in 1961 as part of The Devon (16-story, 205-unit condominium building). Operated under a management agreement with City Parking that is terminated at closing. DST acquired in 2023 by Syndicated Equities to accommodate both cash and 1031 exchange investors.
92 parking spaces; 14,337 sq ft garage condominiumSupporting evidence
How is it financed, and what does it pay?
No mortgage, lender, or loan terms appear in the Form D or in the sponsor material reviewed, so whether the Trust carries debt is not established in the public record. Syndicated Equities reported a $7,514,000 investment in the acquisition.3
Who's behind it?
Syndicated Equities is a Chicago-based real estate investment sponsor with its principal address at 350 N. LaSalle Street.1 The Form D names SE 333 E. 34TH (NEW YORK) GARAGE DTA, LLC as the trust's discretionary trust administrator and a separate affiliate as sponsor entity, both managed by Syndicated Equities Interests, LLC.1 Sponsor material describes the garage as owned through a Delaware Statutory Trust set up to accommodate both cash and 1031 exchange investors.2
- Sponsor
- Syndicated Equities
- Legal Trust name
- SE 333 E. 34TH (NEW YORK) GARAGE, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 4 active / 10 total offerings from Syndicated Equities
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
A Form D — the short notice an issuer files with the SEC for a private offering exempt from registration — reports a first sale on February 7, 2023 and an execution date of February 23, 2023.1 No amendment has followed, so the subscription figures on record are those reported in early 2023.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to Murray Hill Parking Garage?
Top1031 lists Murray Hill Parking Garage as historical. It is no longer raising money.
Where does Top1031 get the data for Murray Hill Parking Garage?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What exactly does this Trust own?
A parking-garage condominium at 333 East 34th Street in Manhattan, on the north side of the street just west of 1st Avenue, at the border of Murray Hill and Kips Bay. It was originally developed in 1961 as part of The Devon, a 16-story, 205-unit condominium building, and includes a ground-level entrance, one underground parking level, and 12 newly installed parking lifts, according to Syndicated Equities.
Who operates the garage today?
The public record does not say. Syndicated Equities' property material states that City Parking operated the garage under a management agreement that would terminate at closing — language written before the March 1, 2023 acquisition. No post-closing operator, lease term, rent schedule, or lease expiration was located in the SEC filing or the sponsor materials reviewed.
Is the Trust still open to new investors?
Yes. Top1031 classifies it as raising, based on the single Form D on record, filed February 28, 2023, which was not reported as fully subscribed. No later amendment has been filed, so the reported subscription figures date from early 2023 and may not reflect current activity — the sponsor is the only current source for that.
Does the Trust use leverage?
Not established. The Form D covers the equity offering only, and no loan document, lender name, debt amount, or loan-to-value figure was located in the sponsor material or public records reviewed. An investor would need the private placement memorandum (PPM) — the sponsor's full offering document — to confirm the capital structure.
Can this Trust convert into a REIT?
The record shows no 721/UPREIT exit — the arrangement in which a DST's property is contributed to a REIT's operating partnership in exchange for units. Nothing in the filing or sponsor material reviewed indicates that path for this Trust.
Who is allowed to invest?
The offering is made under Rule 506(b), a private-placement exemption that prohibits general solicitation and advertising, so participation runs through pre-existing relationships with the sponsor. Investors must be accredited — meeting SEC income or net-worth thresholds — and Syndicated Equities structured the Trust to take both cash and Section 1031 exchange money.
Chapter 9Murray Hill Parking Garage (333 East 34th Street, New York, NY) - DST OfferingSponsor portfolio page describing the 92-space/14,337-sf parking garage condominium at 333 East 34th Street, NY, acquired in 2023 and structured as a DST for cash and 1031 exchange investors.