Vanderpool of Cignature Realty handles sale of 76,536 s/f multifamily in Manhattan's Washington Heights neighborhood for $30.8 million

Manhattan, NY Cignature Realty Associates closed the $30.8 million sale of a six-story multifamily double-elevator building with 79 residential apartments and one professional medical office in the Washington Heights neighborhood.

Peter Vanderpool,
Cignature Realty Associates

The 76,536 s/f building, at 336 Fort Washington Ave., between West 174th and West 175th Sts., sold for $ 402.32 per s/f. The building, that was built in 1924, overlooks J. Wright Park.

Cignature’s Peter Vanderpool represented the buyer, Michael Aryeh of Heritage Realty, and the seller, Fort Washington 336 LP.

The building sold for 17.45 times the current annual rent roll and for a 3.4% cap rate.

Cignature Realty is a commercial real estate brokerage company located in New York City. The Company, a leader in Manhattan multifamily and mixed-use apartment building sales, provides unparalleled deal execution supported by exceptional market intelligence for a broad range of real estate investors, from single-property owners to institutional and private equity funds.

Tags: Brokerage

Reprint

Previous Story Next Story

Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn

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.

Investment Property Realty Group’s Team Friedman brokers seven Bronx closings totaling $12.07 million

IPRG’s Team Friedman brokers 7 Bronx closings totaling $12.07m

Highcap Group sells Astoria 17 unit elevatored apartment building

OPEN Impact R.E. helps Coney Island Prep. secure 39-year leasehold condominium for new 45,190 s/f high school

OPEN Impact helps Coney Island Prep. secure leasehold condo. for new high school

New York restaurant group acquires Upper West Side retail co-op for $4.135 million in deal arranged by Lee & Associates NYC

N.Y. restaurant group acquires Upper West Side retail co-op for $4.135m in deal arranged by Lee & Associates NYC

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

Investment Property Realty Group closes $2.175 million sale of 247 Leonard St.

Columns and Thought Leadership

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

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.

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of