Sternhell and Vanderpool of Cignature broker three sales - $17.75 million; Includes the $7.65 million sale of 854 West 180th Street
Cignature Realty Associates Inc. has completed three sales totaling $17.75 million. The deals include:
* A six-story elevator building with 48 apartments at 854 West 180th St. in Washington Heights for $7.65 million. The building, 854 West 180th St. (Cabrini Blvd.) was built in 1910. The 46,530 s/f building sold for 11.2 times the rent roll. Lazer Sternhell and Peter Vanderpool of Cignature represented both the buyer, 854 West 180 Limited Partnership and the seller, Cabrini Management Associates.
* A six-story elevator apartment building at 550 West 158th St. in Manhattan sold for all cash, $4.65 million. The 43,104 s/f building consists of 42 apartments. It sold for 7.4 times the rent roll. The buyer, 550 Equities LLC, was represented by Vanderpool and Sternhell and the seller, 550 Realty Heights LLC, was represented by Corcoran's Sandy Wilson.
* Two contiguous five-story walk-up apartment buildings at 603 and 607 West 139th St. in Manhattan sold as part of an estate deal, all cash for $5.45 million. The 43,770 s/f buildings sold for eight times the rent roll. The buyer, 603-607 West 139th Street Residences, LLC, was represented by Cignature Vanderpool and Sternhell and the seller, 603 West Realty Corp., was represented by Wilson.
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
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