Manhattan, NY Klosed Properties’ Steven Kachanian and Adam Hajibai completed the acquisition of 312 Manhattan Ave.

The sale price was $11.3 million.

The property is located in Morningside Heights, totalling 44,600 s/f and consists of 59 residential units, 23 of which are vacant.

“This building is located on an incredible Morningside Heights corner, with close proximity to transportation and Columbia University. It presents us with tremendous opportunity as we can create value through renovating vacant apartments and the common areas,” said Hajibai.