Shamah Continues to Expand Manhattan Portfolio

Shamah Properties has closed an $11.1 million deal for a six-story elevator building at 880 Saint Nicholas Avenue in Hamilton Heights. Cignature Realty’s Peter Vanderpool and Lazer Sternhell represented Shamah Properties and their principals Alan Shamah, Eddie Setton and Carl Zekaria, in the purchase of the 37-unit property. Cignature also represented the seller, 880 St. Nick LLC. The cap rate was 3.8 percent. Shamah Properties currently owns and manages some 25 buildings with 1,700 rental units in Brooklyn neighborhoods such as Flatbush, Crown Heights, Prospect Heights, Washington Heights and East Orange, New Jersey. Shamah has been expanding its portfolio of rent-stabilized and free-market

Cignature Realty Brokers $11.1M Sale of Apartment Building in Manhattan

NEW YORK CITY — Cignature Realty has arranged the sale of an apartment building located at 880 Saint Nicholas Ave. in the Hamilton Heights section of Manhattan. Shamah Properties acquired the 37-unit apartment building from 880 St. Nick LLC for $11.1 million. Peter Vanderpool and Lazer Sternhell of Cignature represented the buyer and the seller in the deal.

The Real Deal: The Cignature Realty Deal Sheet

Deal Sheet Buys Address 30 Stlckles Street, 37 Slckles Street, 95 Thayer Street Size 3-building, 195-unit, 148,850 sf Buyer/Representative Prana Investments/Lazer Sternhell, Peter Vanderpool, Cignature Realty Associates Seller / Representative A&E Real Estate Management / Lazer Sternhell, Peter Vanderpool, Cignature Realty Associates Notes The pair of buildings sold for $45.5 million. Address 605 West 151st Street Size 25-unit, 14,136 sf Buyer/Representative Big City Realty / Peter Vanderpool, Lazer Sternhell, Cignature Realty Associates Seller / Representative Waterbury Realty Management / Peter Vanderpool, Lazer Sternhell, Cignature Realty Associates Notes The building sold for $7.65 milli

Vanderpool and Sternhell of Cignature close $7.65m Hamilton Heights sale

NEW YORK, NY Cignature Realty Associates recently closed the $7.65 million sale of a 25-unit Hamilton Heights multifamily building near Riverside Park. The six-story, 31,000 s/f elevator building at 605 West 151st St. was sold to Big City Realty. The seller was Waterbury Realty Management. Cignature Realty Group’s Peter Vanderpool and Lazer Sternhell represented both the buyer and the seller in the transaction. The 1920 building also features a superintendent’s basement unit and 14,136 s/f of air rights, according to Vanderpool. It sold for 19.5 times the current rent roll and has a 2.5% cap rate. “The buyer plans on holding the property for a while and increasing the rent roll,” said Vander

Cignature Realty Closes $7.75m Manhattanville Multifamily

Cignature Realty closed the $7.75 million sale of a Manhattanville multifamily rental apartment building to Sugar Hill Partners. The 20-unit, 19,270 sq. ft. building at 615 West 136th Street was built in 1908 and sold for a three percent cap rate. Cignature Realty’s Peter Vanderpool and Lazer Sternhell represented both Sugar Hill Partners and the seller, a Florida-based family trust. Cignature Realty is a commercial real estate brokerage company located in New York City. Cignature Realty closed a $7.2 million deal on the Upper West Side Washington Heights neighborhood for $7.2 million. The five-story multifamily walk-up apartment building at 574 West 161st street, (between Broadway and Amste

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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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