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Murphy of ERG arranges $3.35 million sale of 667 187th Street

February 24, 2014 - Front Section

Matthew Murphy, ERG

ERG Property Advisors arranged the sale of 667 187th St. in the Little Italy section of the borough.
The property is a five-story walk-up with 20 residential units and four commercial units. The property sold for $3.35 million, representing a cap-rate of 8.7%. Matthew Murphy, director of investment sales at ERG, exclusively represented the seller.
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