Sugar Hill Properties Makes $65M UWS Buy

Cignature Realty Associates has brokered the off-market sale of a four-building Upper West Side portfolio for $65 million. Sugar Hill Capital bought the Manhattan Valley properties at a price that equates to $1,050 per square foot. The five-story, walk-up buildings at 471-476 Central Park West have a total of 125 apartments, mostly rent-regulated units. The buildings are located between West 107th and 108th streets, with over 160 feet of frontage on Central Park West. The site, that allows for the development of a roughly 92,000 s/f structure, spans 61,875 s/f, with an additional 30,000 s/f in air rights. Cignature Realty’s Lazer Sternhell and Peter Vanderpool represented both the buyer, Dav

Cignature Realty Negotiates $21.6M Sale of Residential Building in Manhattan

BY AMY WORKS NEW YORK CITY — Cignature Realty Associates has brokered the sale of a residential building located at 4300 Broadway in Upper Manhattan. Quantum Equities sold the property to Sugar Hill Capital Partners for $21.6 million. Built in 1955, the six-story, elevator-serviced building features 54 residential units and a 6,000-square-foot vacant retail space. The rent-regulated building features a mix of studios and one- and two-bedroom apartments. Lazer Sternhell and Peter Vanderpool of Cignature Realty Associates represented both parties in the off-market transaction.

Quantum Equities Sells 4300 Broadway In Washington Heights

Quantum Equities, a privately-owned investor of multi-family and commercial properties in the greater New York Metro area, has sold 4300 Broadway, Washington Heights, New York. Located between 183rd and 184th Streets, the 46,598-square-foot circa 1955 mixed-use property includes 54 residential units and one retail unit on Broadway. Quantum Equities purchased the asset in October 2013 for $9.9 million and in less than 27 months sold it for $21.6 million. The 6,000-square-foot retail unit was delivered vacant. Situated on a highly active commercial corridor, it is also close to the West 181stStreet transportation hub which includes the newly renovated and expanded George Washington Bridge Bus

Quantum Equities Sells Upper Manhattan Resi Building for $21.6M

BY LAUREN ELKIES SCHRAM About two years after purchasing an Upper Manhattan residential rental building for $9.9 million, Quantum Equities has sold it for $21.6 million, the sellers told Commercial Observer. The sale to Sugar Hill Capital Partners closed yesterday. The 1955, six-story elevator building at 4300 Broadway between West 183rd and West 184th Streets has 54 residential units and one 6,000-square-foot vacant retail space. The building is rent-regulated with studios and one- and two-bedroom apartments. “The time was right for divesting this asset,” Yitzie Pretter, a vice president of Quantum Equities, said in a prepared statement. “Between the new transportation hub being nearly fini

Sugar Hill buys four CPW rentals for $65M

Manhattan Valley properties have 160 feet of frontage facing Central Park By Mark Maurer David Schwartz’s Sugar Hill Capital Partners picked up a four-building multifamily portfolio in the Upper West Side’s Manhattan Valley for $65 million — about $1,050 per square foot — in an off-market deal, sources told The Real Deal. The walk-up properties at 471-476 Central Park West have a total of 125 apartments – mostly rent-regulated units. The cluster of buildings is located between West 107th and 108th streets, with more than 160 feet of frontage on Central Park West. All of them are five stories. Local investors Benjamin Hadar and Leonard Solomon, who control Upwest Co. LLC, have owned the build

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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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