Invictus Property Advisors complete 3 sales

January 11, 2022 - Front Section

New York, NY Invictus Property Advisors (“Invictus”) announced a closing of the Upper West Side Portfolio for $8.05 million. The package consisted of three landmarked multifamily assets located at 142 West 87th St., 268 West 91st St.and 638 West End Ave. in the Central Park West Historic District and the West End Historic District.  There were a total of thirty-two residential units of which eighteen were free market with under-market “COVID-19” rents. The purchaser plans on upgrading the units and condition of the buildings to generate rents in-line with market. 

The purchase price represents a 4.75% cap rate, 11.3x GRM, $429 s/f, and $251,562/Unit. The assets were owned and operated by the seller, a private real estate family, for several decades. Josh Lipton and Andrew Levine of Invictus represented both sides of the transaction

Thanks for Reading!
You've read 1 of your 3 guest articles
Register and get instant unlimited access to all of our articles online.

Sign up is quick, easy, & FREE.
Subscription Options
Already have an account? Login here
Tags:

Comments

Add Comment