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Brokerage
Posted: August 1, 2017
Pomerantz of HPNY closes $15.15 million off-market deal in Washington Heights
Manhattan, NY Josh Pomerantz of HPNY has closed on a $15.15 million off market sale of 522 W. 157th St. in the Washington Heights neighborhood.
The six-story elevator building consisting of 42 apartments is located between Broadway and Amsterdam Ave. With 100 ft. of frontage, the building totals 43,000 s/f. The building traded for 15.5x the rent roll and $350 per built foot. The majority of the apartments are three- and four- bedroom units. The seller of the property is 522 W 157th St LLC, a longtime family ownership since the early 1990s. The buyer of the property was an entity led by Doug Peterson.
Pomerantz represented both sides of the transaction.
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