Shkury of Massey Knakal Rlty. Svcs. completes two sales: $6.135m total

According to Shimon Shkury and his Northern Manhattan Sales Team, they have completed two recent sales and three contract signings for multifamily buildings throughout the northern portion of the borough. The first sale was 147 West 111th St., a 37.5-ft. wide, five-story, pre-war walk-up building containing ten four-bedroom units. The buildings' size and location, just north of Central Park, brought a myriad of attention and led to its sale price of $3.9 million. The second sale was 283 West 147th St., a 25-ft. wide, six-story walk-up building with 23 apartments. The property traded for $2.235 million, representing over 10 times the gross rent and over $200 per s/f. The buyer and seller were both private investors. The team also put three East Harlem apartment buildings in contract: 326-38 East 100th St., 169-75 East 101st St., and 171 East 102nd St. Though the properties all belonged to a single owner and received several portfolio bids, bids on individual assets were consistently the highest and best. All signed contracts have non-refundable deposits, and back-up offers are on the table. Marketing for the three buildings began in late September and attracted over 30 offers in a four-week period. All of the buildings were put in contract by mid-November.