Hakimian and Scharf of HPNY secure $11.6 million

104 Audubon Ave. in Washington Heights AKA 550 West 171st St. has traded hands in an off market deal for $11.6 million. The building is a six-story walk-up, consisting of 50 apartments and five stores, totaling 45,000 s/f located on the southwest corner of Audubon and 171st St. The building has tremendous upside due to the low average rents per apartment and under market retail rents. The selling entity was Baxter LLC and the purchasing entity was 104 Audubon LLC. Ivan Hakimian and Eli Scharf of HPNY were involved in the transaction.