Deals & Dealmakers // Sales

Cignature Realty closed the following deal: The sale of 541 West 144th Street in Hamilton Heights, Manhattan (Between Broadway and Amsterdam Avenue) for $4.55 million. This is a 14,190 sq. ft. five-story walk-up apartment building with 20 rental apartments. It sold for 18.5 times the rent roll and has a cap rate of 2.6 percent. Cignature Realty’s Peter Vanderpool and Lazer Sternhell represented both the seller, 144 Street Properties, LLC. and the buyer, a local real estate investor.

Cignature Realty Closed the Following Deal

The sale of 541 West 144th Street in Hamilton Heights, Manhattan (Between Broadway and Amsterdam Avenue) for $4.55 million.This is a 14,190 sq. ft. five-story walk-up apartment building with 20 rental apartments. It sold for 18.5 times the rent roll and has a cap rate of 2.6 percent. Cignature Realty’s Peter Vanderpool and Lazer Sternhell represented both the seller, 144 Street Properties, LLC. and the buyer, a local real estate investor.

Cignature Realty Associates Arranges $4.5M Sale of Manhattan Apartment Building

By Amy Works In Multifamily, New York, Northeast NEW YORK CITY — Cignature Realty Associates has brokered the sale of an apartment building located at 541 W. 144th St. in Manhattan’s Hamilton Heights neighborhood. A local real estate investor acquired the five-story walk-up for $4.5 million, or 18.5 times the rent roll. The 14,190-square-foot property features 20 apartments. Peter Vanderpool and Lazer Sternhell of Cignature Realty represented the seller, 144 Street Properties LLC, and the buyer in the transaction.

Insiders predict market correction during 2016

By Dan Orlando After two years without a hangover to nurse as the new year rolls in, several of New York’s biggest real estate players agree that 2016 may require a bit more aspirin to get through. However, they tend to agree that a relaxed market may not be cause for concern. ... While the general consensus amongst those in the industry is that a price stabilization is both underway and a positive for the market, Lazer Sternhell, CEO of Cignature Realty, is not yet sold on a correction being imminent. “Believe it or not, we see prices moving forward and going higher,” said Sternhell, who specializes in large multi-family deals in Upper Manhattan. “We don’t see any indication to the contrary

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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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