Cignature Realty Brokers $24.5M Sale Of Six-Building Mixed-Use Portfolio

NEW YORK CITY — Cignature Realty Associates has brokered the sale of a six-building portfolio in northern Manhattan.

Adam Mermelstein/Tree Top Development purchased the portfolio, which features 147 apartments and four retail stores, from a local real estate fund for $24.5 million. The portfolio includes 565 West 139th Street, 27-29 Audubon Avenue, 79 Audubon Avenue, 516 West 169th Street and 507 West 170th Street. Located in Hamilton Heights, 565 West 139th Street is a six-story, 75-foot-wide elevator building.

The remaining buildings are located in Washington Heights across the street from Columbia Medical Center.

Lazer Sternhell and Peter Vanderpool of Cignature Realty represented both the buyer and seller in the transaction.