Cignature Realty Sells Two Buildings To Canadian Investment Group

Cignature Realty Associates recently sold a package of two corner apartment buildings with 95 units in Washington Heights: 4240 Broadway and 4300 Broadway for $23.7 million. Cignature represented both the seller, Heights Equities Inc., a local real estate investor who has owned both buildings for the last 30 years and the buyer, Crest Realties, a Canadian based real estate investment group. “This transaction indicates that the pace of multi-family building sales is on fire, especially in neighborhoods such as Washington Heights and Inwood in the northern reaches of Manhattan,” said Cignature Realty CEO Lazer Sternhell. 4300 Broadway is a six-story elevator apartment building with 52,598 squa

Deals & Dealmakers: Cignature Realty Group

Cignature Realty Group closed a $3.725 million deal in Washington Heights at 608 West 191st Street (at Wadsworth Avenue). An Israeli group bought this five-story 1914 walk-up with 24 apartments. The 19,825 sq. ft. building sold for 11.4 times the rent roll. Cignature Realty Group brokers Lazer Sternhell and Peter Vanderpool represented the buyer, 608 West 191st LLC and the seller was 608 Syl-Ten Assets.

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Information contained herein is from sources deemed reliable but is subject to errors, omissions, change of price or terms, and withdrawal without prior notice at any time. © 2015 - 2017. Cignature Realty and the skyline quadrilateral are registered trademarks of Cignature Realty Associates Inc.
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