Manhattan, NY Barberry Rose Management sold a 32-unit, walk-up multifamily in Washington Heights for $7.05 million. The 36,125 s/f building at 720 West 172nd St. (corner of 172nd and Haven Ave.) was built in 1918. It also includes 8,273 s/f of air rights.
The building sold for a cap rate of 7% and gross rent multiplier of 8.5%.
Rosewood Realty Group’s Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both Barberry Rose Management and the buyer, a private investor.