Cignature Closes SOHO Multi-Family Deal for $6.05 Million

December 1, 2010

Cignature Realty Associates announced it has closed the $6,050,000 sale of a six story multi-family walkup at 156-158 Sullivan Street on the southwest corner of Houston Street to Benchmark Real Estate Group, LLC.

 

Cignature represented both the buyer and the seller, a real estate investment company.

 

Peter Vanderpool, Cignature's President, said the building contains eight studio apartments and 22 four room apartments and three street level retail stores with a total of 15,883 s/f and an average rent per apartment of $1,206 a month, allowing for substantial upside considering the location.

 

Matthew E. Kasindorf, a partner at Meister Seelig & Fein LLP, represented Benchmark in this transaction.

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