Manhattan, NY Wexcor Capital has purchased two attached multifamily buildings from Barberry Rose Management in for $5.8 million.
The six-story, two contiguous walk-up buildings at 565-567 and 571-573 West 175th St. in Washington Heights, feature 61 fully rent stabilized apartments. The 48,288 s/f building was built in 1914.
It sold for a cap rate of 9% and a GRM of 5.7. The buildings also sold for $95,082 price per unit and $120 price per s/f.
Rosewood Realty Group's Aaron Jungreis, Ben Khakshoor and Alex Fuchs represented both Wexcor and Barberry Rose Management in the sale.
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