Miller and Avital of Eastern Consolidated complete a $10m sale

A pair of two five-story walkup apartment buildings, comprising a total of 18,720 s/f and 40 units, situated on the Upper West Side at 132-134 West 109th St., has traded for $10 million Eastern Consolidated's Alan Miller, senior director, with Aliza Avital, director, represented the seller, The Paz family, Peter Carillo, director, procured the buyer, UK-based real estate investors who are very keen to find other similar investments Stateside, primarily in New York City. "The building showed great upside potential," said Miller, "and its very popular Upper West Side location was also a driver in the deal." The buildings are located between Columbus and Amsterdam Aves. "My client is very eager to establish a significant foothold in Manhattan, by acquiring residential properties in need of upgrading in prime neighborhoods," said Carillo. Built in 1986, only ten out of the 40 units have been renovated and average rental rates are $1,550 per month. Stuart Rich Esq. of Meister Seelig & Fein LLP represented the sellers.