Cignature Realty Associates
News:
Brokerage
Posted: August 1, 2017
Sternhell, Vanderpool and Rahimzada of Cignature Realty handle $15.5 million three-building sale in Manhattan–34 units
Manhattan, NY Cignature Realty Associates closed the sale of a three-building multifamily portfolio with 34 low rent apartments in the Hell’s Kitchen neighborhood for $15.5 million.
Cignature Realty Associates
Cignature Realty Associates
The three building portfolio includes:
• 439 West 48th St., with 12 apartments;
• 441 West 48th St., with 12 apartments; and
• 443 West 48th St., with 10 apartments.
The three adjacent five-story buildings were owned by the same long-term owner for 39 years and together total 24,515 s/f. The properties sold for 23.36 times the current annual rent roll and at a 2.38% cap rate. The price per s/f is $632.
Cignature’s Lazer Sternhell, Peter Vanderpool and Michael Rahimzada represented the seller, Yaron LLC., and the buyer.
Tags:
Brokerage
MORE FROM Brokerage
Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million
Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million. “This transaction underscores
.jpg)
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
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
Strategic pause - by Shallini Mehra and Chirag Doshi
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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
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.
.gif)