Sugar Hill Sells Upper Manhattan MF Building
Sugar Hill Capital Partners has sold a 47-unit mixed-use building in the Hamilton Heights section of Manhattan to Brooklyn-based multifamily landlord Galil Management—formerly known as E&M Associates—for over $25 million. The six-story, 65,050-square-foot building at 3621 Broadway is an elevator building with 47 apartments, eight stores and an art studio. The building also includes 31,175 square feet of air rights. Cignature Realty Associates’ Peter Vanderpool and Lazer Sternhell, who represented the buyer and the seller, says Galil Management plans to hold the asset and increase the income of the building.