Sugar Hill Partners Acquires 20-Unit Multifamily Property in Manhattan for $7.8M

BY AMY WORKS NEW YORK CITY — Sugar Hill Partners has acquired a multifamily building located at 615 W. 136th St. in Manhattan. A Florida-based family trust sold the property for $7.8 million. Built in 1908, the 19,270-square-foot property features 20 apartments. Peter Vanderpool and Lazer Sternhell of Cignature Realty represented the buyer and the seller in the deal.

Rockland County investors sell coveted Washington Heights building for $16M

By: REW Cignature Realty Associates closed a $16 million sale of a 54-unit multifamily building in Washington Heights to Barberry Rose Management Company (BRM), a full service New York City property management company. Cignature Realty’s Lazer Sternell and Peter Vanderpool represented both Barberry and the seller, Hillcrest Acquisitions LLC., a group of private investors based in Rockland County’s Spring Valley. The six story elevator building at 548 West 164th Street was built in 1910 and is 56,634 square feet. It has a cap rate of 2.7 percent and the price per square foot is $283.The unit mix is one studio, 24 two-bedrooms, 12 three-bedrooms and 17 four-bedrooms. “This building is a six-st

Prana Investments Buys $45.5 Million Washington Heights Portfolio Sale

Prana Investments has purchased a $45.5 million portfolio of three, five-story multifamily walk-up buildings with 195 units in Washington Heights. The San Francisco-based Prana Investments owns real estate assets in California and New York. The seller was A & E Real Estate Holdings, headed by Douglas Eisenberg. Cignature Realty's Lazer Sternhell and Peter Vanderpool represented the buyer and Rosewood Realty's Aaron Jungreis represented the seller in the transaction that closed last week. The buildings, which were built between 1920 and 1925, are located at 37 Sickles and 30 Sickles Street and 95 Thayer Street. Together they total 148,850 square feet and have a cap rate of cap rate of 3.8 per

Cignature Realty Negotiates $45.5M Sale of Three-Property Multifamily Portfolio in Manhattan

BY AMY WORKS In Multifamily, New York, Northeast NEW YORK CITY — Cignature Realty Associates has brokered the sale of a three-property multifamily portfolio in Manhattan’s Washington Heights neighborhood. Prana Investments acquired the portfolio from A&E Real Estate Holdings for $45.5 million. The five-story building are located at 29-45 Sickles St., 30 Sickles St. and 95 Thayer St. The properties total 148,850 square feet. Lazer Sternhell and Peter Vanderpool of Cignature Realty represented the buyer, while Aaron Jungreis of Rosewood Realty Group represented the seller in the transaction.

Washington Heights Property Manager Snaps Up Apartment Building for $16M

BY RHEAA RAO Barberry Rose Management, a local property management company, has closed on a 56,634-square-foot building in Washington Heights for $16 million, Commercial Observer has learned. The price is nearly double what the building last sold for two years ago. The seller of the 54-unit rental residential building 548 West 164th Street between Amsterdam Avenue and Broadway was Hillcrest Acquisitions, comprised of a group of private investors based in Spring Valley, N.Y. The 106-year-old elevator building has one studio, 24 two, 12 three- and 17 four-bedroom apartments. The property is a mix of free-market, rent-stabilized and rent-controlled units, according to the brokers. Cignature Rea

Prana buys three Washington Heights rentals from A&E for $45M

Buildings at 30 and 37 Sickle Street total 150 units By Konrad Putzier Prana Investments bought three Washington Heights multifamily buildings from A&E Real Estate for $45.5 million, according to public records filed with the city Wednesday. The buildings at 30 Sickles Street, 37 Sickles Street and 95 Thayer Street include 195 apartments. The sales price is a significant markup over what A&E paid for the buildings a mere few years ago. The company bought 30 Sickles Street, a 42,000-square-foot, 52-unit building, for $5.9 million in 2012. A year later, it paid $14.5 million for the 71,400-square-foot, 98-unit building 37 Sickles Street. All three buildings stand five stories tall. Lazer Stern

Big City Realty Acquires 25-Unit Apartment Building in Manhattan for $7.6M

BY AMY WORKS In Multifamily, New York, Northeast NEW YORK CITY — Big City Realty has acquired an apartment building located at 605 W. 151st St. in Manhattan’s Hamilton Heights neighborhood. Waterbury Realty Management sold the six-story, 31,000-square-foot property for $7.6 million. Built in 1920, the property features 25 apartment units and 14,136 square feet of air rights. Peter Vanderpool and Lazer Sternhell of Cignature Realty Group represented the buyer and the seller in the deal.

Cignature Realty Sold 519 West 143rd Street for $9.3 Million

By ROSALIE R. RADOMSKY 519 West 143rd Street (between Broadway and Hamilton Place) Sold for $9,300,000 A property management company has bought this six-story elevator building, built around 1920, with 24 apartments — one two-bedroom and 23 four-bedrooms. The 29,520-square-foot building sold for 19.1 times the rent roll. Buyer: Barberry Rose Management Seller: Hillcrest Acquisitions L.L.C. Brokers: Lazer Sternhell and Peter Vanderpool, Cignature Realty

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