Cignature Realty closed the following deal: The sale of 541 West 144th Street in Hamilton Heights, Manhattan (Between Broadway and Amsterdam Avenue) for $4.55 million. This is a 14,190 sq. ft. five-story walk-up apartment building with 20 rental apartments. It sold for 18.5 times the rent roll and has a cap rate of 2.6 percent.
Cignature Realty’s Peter Vanderpool and Lazer Sternhell represented both the seller, 144 Street Properties, LLC. and the buyer, a local real estate investor.