Mavashev of Alpha Realty brokers $12 million sale of 137 West 137th Street - 56 apartments

Manhattan, NY Alpha Realty arranged the sale of 137 West 137th St. in Central Harlem for $12 million. The six-story elevator building is built to 30,900 s/f and consists of 56 apartments. The deal price achieved a 15x rent multiple and equated to $389 per s/f. The buyer is a Manhattan-based real estate fund and, while the seller is a local private investor. Lev Mavashev negotiated the off-market deal, which was originated by David Moss and Noah Schmahl. “The seller saw an opportunity to capital on their investment which they held for almost 10 years, and the buyers were there ready to transact as this building was a great chance for the buyers to expand their Manhattan holdings,” said Mavashev.