Knakal and Shapiro of Massey Knakal arrange $62 million portfolio sale; Located in the Hamilton and Washington Heights sections

A portfolio of seven elevator buildings, known as the Broadway West Portfolio, located throughout the Hamilton Heights and Washington Heights sections were sold in an all-cash transaction valued at $62 million. The portfolio includes the following properties: 3421 Broadway, 610 West 157th St., 3851 Broadway, 559 West 164th St., 4141 Broadway, 4151 Broadway and 4180 Broadway. The portfolio consists of seven elevator buildings, containing 361 residential units and 28 commercial units with a combined s/f of 434,605 s/f. This package offers upside potential on both the residential and commercial fronts. "The momentum in the multifamily market created by a very low supply of properties for sale and extraordinarily low interest rates has been remarkable. Properties are selling as rapidly as they were at the peak of the market in 2007," said Massey Knakal chairman Robert Knakal who exclusively represented the seller along with first vice president of sales Robert Shapiro. They were the sole brokers. Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,000 transactions having a market value in excess of $14 billion.