Manhattan, NY Cignature Realty Associates closed a $13.25 million sale of a six-story corner multifamily elevator building with 54 apartments in the borough’s Washington Heights neighborhood.
The 41,736 s/f building at 221 Wadsworth Ave., was built in 1928, and sold for 17.4 times the current annual rent roll, at a cap rate of 3.22%.
Cignature Realty’s Peter Vanderpool and Lazer Sternhell represented the buyer and the seller.