Sternhell and Vanderpool of Cignature Broker $9.4m

Manhattan, NY – Cignature Realty Associates brokered the $9.4 million sale of a five-story corner multifamily walk-up building in the Inwood neighborhood to Hillcrest Acqusitions. The seller was Geisinger Equities. Cignature Realty’s Lazer Sternhell and Peter Vanderpool represented the buyer and seller. The building, which was built in 1928, is located at 546 Isham St. at the southeast corner of Isham & Vermilyea Ave. It is 37,700 s/f and features 49 apartments: 32 one-bedrooms, 10 two-bedrooms, 4 three-bedrooms and three studios. None are free market. The transaction traded at $249 per s/f on a price per unit basis at $191,836.

Cignature Realty Arranges $9.4M Sale of Multifamily Building in Manhattan

BY AMY WORKS NEW YORK CITY — Cignature Realty Associates has brokered the sale of a multifamily building located at 546 Isham St. in the Inwood section of Manhattan. Hillcrest Acquisitions acquired the five-story corner building from Geisinger Equities for $9.4 million, or $249 per square foot. Built in 1928, the 37,700-square-foot property features 49 apartments in a mix of studio, one-, two- and three-bedroom layouts. Lazer Sternhell and Peter Vanderpool of Cignature Realty represented the buyer and seller in the deal.

5-Story Inwood Walkup Sold for $9.4 Million

The 49-unit residential building is located on Isham Street near Vermilyea Avenue. INWOOD, NY — An 49-unit Inwood building is changing hands from one private equity firm to another for a sum of $9.4 million, the Commercial Observer reported. Hillcrest Acquisitions has purchased 546 Isham Street, near Vermilyea Avenue, from Geisinger Equities in sale brokered by Cignature Realty Associates, according to the report. And there may be a rent increase coming for the building's tenants. "The building was in great condition with no heavy lifting needed in terms of repairs [and] the average rent per apartment and the average rent per room were very low, leaving the new owner with tremendous potentia

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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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