Carillo and Lieberman of Eastern Consolidated sell 48-unit apartment building: $6.7 million

A six-story, 48-unit elevatored residential building, situated at 315 West 115th St. between Manhattan Ave. and Frederick Douglas Blvd., has traded for $6.7 million. Eastern Consolidated directors Peter Carillo and Lipa Lieberman both represented the seller, West 115th Realty LLC, and procured the buyer, West 115 11-13 Associates LLC. "The new owner plans to continue to upgrade the 100% occupied, rent-stabilized building for the benefit of all the tenants," said Carillo who added that neighborhood is very strong and offers tremendous upside potential. According to Lieberman, "The new buyer, a locally-based family and long-term holder, prefers these kinds of stable, pre-war multifamily properties in up-and-coming neighborhoods." Attorneys in the transaction were Mitchell Taras, Esq. of Sadis & Goldberg LLP for the seller, and Laurie A. Grasso Esq., Herrick Feinstein LLP for the buyer.