Cignature Realty Closes Two Upper Manhattan Buildings for Close to $20 Million
Cignature Realty Associates announced they have closed the sale of two Upper West Side buildings. The first at 3820 Broadway, at the corner of Broadway and West 159th in Washington Heights, sold for $15 million. The six-story elevator apartment building has 38 apartments and six stores. The 43,748-square-foot building sold for 16 times the rent roll. It was built in 1907.
Cignature Realty's Lazer Sternhell and Peter Vanderpool represented both the buyer, Broadway 3820 LLC and the seller, 3820 Broadway LLC. The other building, 65 Nagle Avenue in Inwood, sold for $3.95 million. The building is a five-story walk-up apartment building with 26 apartments. The 21,080-square-foot building was built in 1914.
Sternhell and Vanderpool also represented both the buyer, Nagle Realty Associates, LLC and the seller, New York Commercial Property Group LLC.