Cignature Arranges $19.5M Sale of Multifamily Portfolio

NEW YORK CITY — Cignature Realty Associates has arranged the $19.5 million sale of a three-building, 97-unit portfolio in the Hamilton Heights section of Manhattan. The buildings total 91,532 square feet and include 1616 Amsterdam Ave., a seven-story building with 52 apartments and six stores; 3694 Broadway, a six-story property with 24 apartments; and 561 West 144th St., a five-story apartment building with 21 apartments. Peter Vanderpool and Lazer Sternhell of Cignature Realty Associates represented both the buyer, a local real estate group, and the seller, a real estate fund, in the transaction.

Hamilton Heights Portfolio Sells for $19.5M

By Lauren Elkies Schram A building across from The City College of New York plus two other buildings in Hamilton Heights have sold in a 97-unit package deal for $19.5 million, Commercial Observer has learned. The buildings are a seven-story, 52-unit apartment building (with six stores) at 1616 Amsterdam Avenue, across from City College; a six-story, 24-unit apartment building at 3694 Broadway; and a five-story, 21 unit building at 561 West 144th Street. Cignature Realty Associates’ Peter Vanderpool and Lazer Sternhell represented the buyer, a local real estate group, and the seller, a real estate fund, in the deal. “This is the third time I sold 1616 Amsterdam Avenue,” Mr. Vanderpool said in

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