Sternhell and Vanderpool of Cignature broker $7.04 million sale; Reps buyer: Heritage Realty / seller: Haven Holding

Cignature Realty Associates arranged the $7.04 million sale of a five-story, walk-up apartment building in Washington Heights, across from Columbia University's Medical Center dormitories to Heritage Realty Services, a Manhattan-boutique real estate management/investment company. The 21,735 s/f property located at 718 West 171st St., contains 22 apartments. The building is located at the southeast corner of Haven Ave. and 171st St., in a "thriving neighborhood close to subway stations and bus stops," according to Peter Vanderpool, president of Cignature Realty. "Washington Heights has become a hot market for apartment property owners and investors in recent years," said Vanderpool. "Its appeal is based on the steady migration of New Yorkers seeking affordable rents, easy commutes to work and a neighborhood with excellent retail and restaurant options." Cignature Realty's Lazer Sternhell and Vanderpool represented the buyer, Heritage Realty Services, and the seller, Haven Holding LLC., a local investor.