Vegh of Westwood arranges $34.4 million sale

564 W.126th Street - New York, NY

Steven Vegh, Westwood Realty Associates

New York, NY Thor Residential closed on a three-building package across the street from Columbia University for $34.4 million. The buildings, 556 – 564 W.126^th St., consist of 58 residential units and five stores. The buildings is a combined 52,000 s/f and over 100 ft. of retail frontage direct across from Columbia University’s 17-acre Manhattanville expansion, which is slated to be completed in 2017. 

The seller, BCB Property Management led by Bennat Berger, purchased the properties for $23.5 million in 2013 and 2014. They have invested a significant amount of capital improvements including renovations of many units and common areas. The apartments, all four-bedroom units were being listed for $3,675 from information pulled from public records.

Westwood Realty Associates’ Steven Vegh was the sole broker in this off-market transaction.

Since the launch of Thor in Oct. 2013 with Alan Klein and Johnathan Fishman, they have closed $250 million in real estate including several purchases in Harlem such as 17 W 125^th St. and 98 Morningside Ave.