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.

Tags: Brokerage

Reprint

Previous Story Next Story

GFP Real Estate signs 5,082 s/f of leasing activity at 630 Ninth Ave.

Manhattan, NY GFP Real Estate today negotiated two office leasing transactions totaling 5,082 s/f at 630 Ninth Ave., underscoring continued demand for efficient, well-located office space on the

Lee & Associates NYC arranges 7,487 s/f lease on behalf of building ownership as Treeswift expands headquarters to 256 West 38th St.

Lee & Associates NYC arranges 7,487 s/f lease for Treeswift at 256 West 38th St.

Kelman Winston & Vallone PC relocates to newly built office space on the 14th floor of 520 Eighth Ave.

Kelman Winston & Vallone relocates to 520 Eighth Ave.

Lee & Associates NYC completes two direct office lease renewals totaling 11,360 s/f at 149 West 36th St.

Ariel Property Advisors arranges $45 million sale of four building affordable housing portfolio

Ariel Property Advisors arranges $45m sale of four building affordable housing portfolio

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

YODA PLC completes more than 113,000 s/f of new leasing at Transamerica Pyramid Center

Columns and Thought Leadership

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced