Press Release – Cignature Realty Secures Year-End $53.5 Million Manhattan Multifamily Portfolio Deal
New York, NY – December 22, 2021 – Cignature Realty closed the sale of a three-building Manhattan multifamily portfolio for $53,500,000. The portfolio comprises one 6-story mixed-use elevator building and two 5-story multifamily buildings, with a total of 39 residential units, 30 professional units, and 11 retail units.
4001 Broadway, 1121 First Avenue, and 318 West 75th Street are located across three Manhattan neighborhoods – Washington Heights, Upper East Side, and Upper West Side. The buildings have a combined 87,508 square feet with an additional 45,992 square feet of air rights and sold for approximately $611 per square foot.
Cignature Realty’s Lazer Sternhell and Peter Vanderpool represented both the buyer and the seller in this transaction.
About Cignature Realty Associates Inc
Cignature Realty is a commercial real estate brokerage company located in New York City. The Company, a leader in New York Metro multifamily and mixed-use apartment building sales, provides unparalleled deal execution supported by exceptional market intelligence for a broad range of real estate investors, from single-property owners to institutional and private equity funds.
The Cignature Realty team has closed hundreds of commercial real estate transactions and has accumulated multiple awards recognizing their achievements and contributions to the New York real estate industry.
For additional information, please visit www.CignatureRealty.com.
Lazer Sternhell Lazer@CignatureRealty.com
(212) 643-1880 ext 18
Markiya Lee Markiya@DesignMattersInc.com