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Brokerage
Posted: February 23, 2015
ERG Property Advisors completes $5.8 million sale
Matthew Murphy of ERG Property Advisors arranged the sale of three residential buildings located at 450, 454, and 458 East 144th St.
The subject properties encompass a total of 40,262 s/f. The buildings consist of 37 apartment units combined along with a combined total of three commercial units. One of the buildings is newly constructed and two come equipped with their own parking. The properties are conveniently located right by the 2, 4, 5, and 6 subway lines.
The portfolio sold for $5.8 million at a cap-rate of 8.4%.
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