Schertz of Schuckman Realty sells multifamily property for $3.35m

Manhattan, NY Schuckman Realty handled the sale of a multifamily building at 670 193^rd St. in the Washington Heights neighborhood. The building, which is located at the corner of 193^rd St. and Broadway Terr. sold for $3.35 million. The sale price equates to $160,000 per unit and $292 per s/f.

Sam Schertz of Schuckman Realty Inc. represented both sides of the deal, the buyer was Sarway Equities who is an active buyer in the upper Manhattan market. The seller was Coral Management, who by selling 670 193^rd St., sold their last property in the city.

Schertz said, “This trade is a testament to the market, that although the property is Rent Stabilized there are lots of buyers in the market looking for stabilized yields.”

Schertz is a licensed real estate salesperson who focuses on the sale of investment properties in the multifamily, mixed-use, retail and development sectors in NYC boroughs and Long Island markets.