Sternhell and Vanderpool of Cignature Realty Assoc. broker $101.5 million sale

MANHATTAN, NY | A five-building rental portfolio known as the Fort Riverside portfolio closed for $101.5 million or about $300 per s/f. The six-story elevator buildings spread out along Fort Washington Ave. and Riverside Dr., contain 289 apartments and spans 341,148 s/f. The addresses are 66-72, 80 and 86 Fort Washington Ave. and 838 and 884 Riverside Dr. The package also includes a combined 199,000 s/f of air rights. Of the 289 apartments, 104 are renovated. Also, 62% of the apartments are rent regulated and rent for about 50% of the market rate at $20 per s/f. Cignature Realty Associates CEO Lazer Sternhell and president Peter Vanderpool represented the buyers, a group of real estate inves

Washington Heights Five Building Portfolio Closes for $101.5 Million

A five-building rental portfolio known as the Fort Riverside portfolio closed last week for $101.5 million or about $300 per square foot. The six-story elevator buildings spread out along Fort Washington Avenue and Riverside Drive, contain 289 apartments and span 341,148 square feet. The addresses are 66-72, 80 and 86 Fort Washington Avenue and 838 and 884 Riverside Drive. The package also includes a combined 199,000 square feet of air rights. Of the 289 apartments, 104 are renovated. About 62 percent of the apartments are rent regulated and rent for about 50 percent of the market rate at $20 per square foot. Cignature Realty Associates CEO Lazer Sternhell and President Peter Vanderpool repr

Sentinel Real Estate Corp. Sells Five-Building Multifamily Property in Manhattan for $101.5M

BY AMY WORKS NEW YORK CITY — Sentinel Real Estate Corp. has completed the disposition of a five-building multifamily property, known as the Fort Riverside portfolio, in Manhattan. A group of real estate investors led by Joshua Sternhell and David Katz acquired the portfolio sold for $101.5 million, or $300 per square foot. The 341,148-square-foot portfolio features 289 apartments along Fort Washington Avenue and Riverside Drive at 66-72, 80 and 86 Fort Washington Ave. and 838 and 884 Riverside Drive. Additionally, the assets include a combined 199,000 square feet of air rights. Lazer Sternhell and Peter Vanderpool of Cignature Realty Associates represented the buyers, while Robert Shapiro, B

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