Sparks and Solarz of Eastern Consolidated collaborate for $51.9 million portfolio sale; Suehar Associates sells to FBE Limited

 

 

Manhattan, NY Eastern Consolidated has arranged the sale of a multifamily portfolio consisting of four contiguous, six-story elevator buildings at 60-68 West 107th St. between Columbus and Manhattan Aves. on the Upper West Side. The package traded for $51.9 million.

The four buildings span over 100,000 s/f and include 100 apartments, of which 25 are two-bedroom units and 75 are three-bedroom units.

Senior director and principal Matt Sparks represented the seller, Suehar Associates, which has owned the buildings for over 60 years. Executive managing director and principal Ron Solarz procured the buyer, FBE Limited.

“These four buildings have been under the same ownership for over six decades, and are located in an area where rent growth continually outperforms other markets,” Sparks said.

Solarz said, “The buyer was attracted to this package because the buildings offer tremendous future upside, in part because they are located in a great neighborhood just a few blocks from Central Park and Morningside Park and near four subway lines.”

The A, B, and C trains are available at 110th  and Central Park West and the1 train is available at 110th and Broadway. In addition Columbia University and Barnard College are located in nearby Morningside Heights.