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Brokerage
Posted: November 22, 2022
GFI Realty Services sells Manhattan condo package for $3.025 million
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Manhattan, NY GFI Realty Services has sold a residential condo package across three condominium buildings, 710 Riverside Ave., 305 West 150th St., and 42 West 120th St., for $3.025 million. GFI Realty senior managing director, Matthew Sparks exclusively represented the seller and the buyer, both local investors.
The package is comprised of seventeen rent stabilized sponsored condo units totaling 15,538 s/f.
“The buyer recognized that this offering presents tremendous opportunity as the residential value is estimated to increase by as much as 65% upon vacancy,” said Sparks. “In addition, the asset is located in a prime area where there continues to be growth in the condo market, both new construction and conversions.”
The properties are in proximity to Columbia University, Morningside Park, Marcus Garvey Park and Central Park North and offer access to the 2, 3, A, B & C subway lines, various bus routes and Citi Bike stations.
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