Fornabaio of Vanderbilt Realty closes sale of Manhattan coop; Carra of NLC Realty is co-broker

Manhattan, NY Anthony Fornabaio, director of sales of Vanderbilt Realty recently closed on the sale of Investment grade coop.

Vanderbilt Realty, a commercial brokerage firm located on Long Island’s north shore, facilitated the Midtown. The property is located off Lexington Ave. and East 49th St. This Vanderbilt exclusive is one of two Penthouse apartments in the 1920’s buidling. The maintenance on this penthouse was $1,604 and the rental occupant is a rent-stabilized tenant.

“The apartment sold for 40% of the vacant value. This was a tough sale as the income was substantially less than the maintenance payments," said Fornabaio.

Nicole Carra of NLC Realty, LLC Associates co-brokered the deal with Fornabaio.