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Cignature in The News – "Selling Points: Prana Adds to Multifamily Assets"

California investment firm Prana Investments has acquired a five-building Harlem apartment portfolio for $13.75 million

Cignature Realty brokered the sale of the portfolio that includes one six-story multifamily elevator building, one six-story multifamily apartment building, two five-story multifamily apartment buildings and one five-story mixed-use apartment building with a total of 105 apartments and two retail stores.

The buildings, 55 West 129th Street, 216 and 224 West 141st Street, 144 West 144th Street and 2570 Adam Clayton Powell Jr. Boulevard, are located between West 129th and West 149th Streets on or close to 2570 Adam Clayton Powell Jr. Boulevard in Central Harlem.

The 93,753 s/f portfolio sold for approximately $147 psf. Cignature Realty’s Lazer Sternhell and Peter Vanderpool represented both the buyer and the seller, Izzy Kirzner’s Sharp Management Corp.

Original article can be found at Real Estate Weekly Online.

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