Murray Hill Parking Garage
Parking property in New York, NY · sponsored by Syndicated Equities
Murray Hill Parking Garage was a DST sponsored by Syndicated Equities that owned a parking property in New York, NY. Its last Form D was filed Feb 28, 2023.
How it ended
No outcome recorded · under 7 years
Last Form D filed Feb 28, 2023.
Key facts
- Minimum investment
- Not in the Form DFrom the Form D
- Offering size
- $8,920,000Equity offered, per the Form D
- Sold
- 14.4%Form D, Feb 28, 2023; the % is our arithmetic
- Investors reported
- Form D, Feb 28, 202312
- Selling commissions
- Form D Item 15; the % is our arithmetic$0 · 0.0% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: Murray Hill Parking Garage. Top1031 is not a broker-dealer.What did Murray Hill Parking Garage own?
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
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
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
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $0 · 0.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,360,000 · 15.2% of offeringForm D Item 16
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Feb 7, 2023
- Minimum investment
- Not in the Form D
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind Murray Hill Parking Garage?
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
- Offerings on record
What does the SEC record show?
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.
- Legal Trust name
- SE 333 E. 34TH (NEW YORK) GARAGE, DST
- SEC CIK
- 1965780
- First Form D
- Feb 28, 2023
- Latest Form D
- Feb 28, 2023
- Filings on record
- 1
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $8,920,000 | $1,290,248 | 12 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- What happened to Murray Hill Parking Garage?
- Murray Hill Parking Garage is a Historical offering. Last Form D filed Feb 28, 2023.
- 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.
- 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 offering documents 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.
In the news
Sources
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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 offering documents before investing.