Hamilton Heights Multifamily Sold for $25.5M — Sugar Hill Capital Divests Mixed Use Building on Broa

Brooklyn-based multifamily landlord Galil Management, formerly E&M Associates, acquired the mixed-use building at 3621-3629 Broadway in New York City from Sugar Hill Capital Partners for $25.5 million.

Built in 1920, the six-story, 65,050-square-foot elevatored building is comprised of 47 residential units, eight commercial stores, and an art studio. The deal also includes 31,175 square feet of additional air rights.

“This is an extremely large Broadway building on the corner of West 149th Street, a neighborhood that is blossoming on a daily basis,” said Peter Vanderpool, broker with Cignature Realty Associates. “The building is home to up-and-coming artists and their workshops in the basement.”

The seller recently gut-renovated many of the apartments, which include a mix of two-, three-, four-, and five-bedroom layouts with asking rents between $672 and $3,400 per month. The building sits on one-third of an acre in the Harlem submarket of Manhattan.

Peter Vanderpool and Lazer Sternhell at Cignature Realty Associates represented the seller and the buyer, who plans to hold the asset and increase rental income from the building.

Please see CoStar COMPS #3282156 for additional information on this transaction.


Recent Posts

News Archive

Search By Tag

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.
Cignature Realty Associates Inc  //  Licensed Real Estate Brokers
825 West End Avenue, Suite 1A  //  New York, NY 10025 
212 643-1880

Main Menu

Investment Sales

Lending Solutions

  • Grey Twitter Icon