Sternhell and Vanderpool of Cignature broker three sales - $17.75 million; Includes the $7.65 million sale of 854 West 180th Street
Cignature Realty Associates Inc. has completed three sales totaling $17.75 million. The deals include:
* A six-story elevator building with 48 apartments at 854 West 180th St. in Washington Heights for $7.65 million. The building, 854 West 180th St. (Cabrini Blvd.) was built in 1910. The 46,530 s/f building sold for 11.2 times the rent roll. Lazer Sternhell and Peter Vanderpool of Cignature represented both the buyer, 854 West 180 Limited Partnership and the seller, Cabrini Management Associates.
* A six-story elevator apartment building at 550 West 158th St. in Manhattan sold for all cash, $4.65 million. The 43,104 s/f building consists of 42 apartments. It sold for 7.4 times the rent roll. The buyer, 550 Equities LLC, was represented by Vanderpool and Sternhell and the seller, 550 Realty Heights LLC, was represented by Corcoran's Sandy Wilson.
* Two contiguous five-story walk-up apartment buildings at 603 and 607 West 139th St. in Manhattan sold as part of an estate deal, all cash for $5.45 million. The 43,770 s/f buildings sold for eight times the rent roll. The buyer, 603-607 West 139th Street Residences, LLC, was represented by Cignature Vanderpool and Sternhell and the seller, 603 West Realty Corp., was represented by Wilson.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent