Vegh of Westwood Realty arranges $11.55 million sale

October 17, 2017 - New York City
Steven Vegh, Westwood
Realty Associates

Manhattan, NY According to public records, Alchemy Ventures closed on a sale of two buildings in Washington Heights for $11.55 million. The buildings, 82 and 84 Wadsworth Ave., consist of 47 residential units and span 38,382 s/f. The sellers show as a private company held in Rockland County.  They purchased the buildings from NYC based Onex Real Estate Partners for $7.5 million in September 2014.

Previous owners have completed some capital improvements since purchasing the buildings and rents in the building range from $2,200 for two-bedroom to $1,900 for one-bedroom units, according to StreetEasy.

The purchaser, a subsidiary of Alchemy Properties have been buying value add multifamily properties in Brooklyn and upper Manhattan.

Steven Vegh of Westwood Realty Associates represented both sides on this off-market transaction.

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