Hauspurg, Yawitz, Douglas and Rogovin of Eastern Consolidated complete $24.5m sale

A six-building pre-war mixed-use portfolio of buildings located throughout the borough, comprising a total of 179 residential and 30 commercial units, has traded for $24.5 million. Peter Hauspurg, CEO and chairman of Eastern Consolidated, Marcia Rose Yawitz, senior director, and Harrison Douglas, director, exclusively represented the seller, Intervest Development Corp., long-term owners of Manhattan and Bronx properties, while Eastern's Ronda Rogovin, senior director, procured the purchaser, a local investor. Four of the properties, 2195 Grand Concourse, 117 Kingsbridge Rd., 25 Gunhill Rd. and 2424 East Tremont Ave., are corner apartment buildings, two of which are elevatored, all have retail components, each of which have annual rent escalations. Two properties, 535 East Tremont Ave., a four-story commercial building, which is adjacent to 4216 Third Ave., a vacant five-story building, are poised for redevelopment in the retail and commercial area. This offering was originally part of a larger three-borough portfolio, which the sellers decided to break-up into several separate offerings. Remaining in this portfolio are 12 elevatored properties in Washington Heights. Andrew Albstein, Esq. of Goldberg, Weprin and Ustin, represented the seller and Mark Mandell, Esq. and Matthew Mandell Esq. represented the purchaser.