Cignature Realty Closes $13.25 Million Washington Heights 54-Unit Multi-Family Building Sale

Cignature Realty Associates closed a $13.25 million sale of a six-story corner multi-family elevator building with 54 apartments in Washington Heights. The 41,736 sq. foot building at 221 Wadsworth Avenue, was built in 1928, and sold for 17.4 times the current annual rent roll, at a cap rate of 3.22 percent. Cignature Realty's Peter Vanderpool and Lazer Sternhell represented both the buyer and the seller.