Quantum Equities, a privately-owned investor of multi-family and commercial properties in the greater New York Metro area, has sold 4300 Broadway, Washington Heights, New York.
Located between 183rd and 184th Streets, the 46,598-square-foot circa 1955 mixed-use property includes 54 residential units and one retail unit on Broadway. Quantum Equities purchased the asset in October 2013 for $9.9 million and in less than 27 months sold it for $21.6 million.
The 6,000-square-foot retail unit was delivered vacant. Situated on a highly active commercial corridor, it is also close to the West 181stStreet transportation hub which includes the newly renovated and expanded George Washington Bridge Bus Terminal, anticipated for completion this spring. In addition, the space is near two major subway lines, comprising the A express and 1 local trains.
Quantum Equities was represented by Peter Vanderpool and Lazer Sternhell of Cignature Realty. The purchaser was 4300 Broadway Residences, LLC.