Sharif Sayed Of Ramo Properties Acquires 529 West 179th Street Mixed-Use Building For $3M

529 West 179th Street is a mixed-use property located in the Washington Heights area, encompassing a total of 21,325 square feet, consisting of 23 units, which include 2 commercial and 21 residential spaces. The asset was acquired by Ramo Properties for $3 million.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $3,000,000
• Loan Amount: $2,250,000
• Loan Type: Acquisition
• Loan Terms: 75% LTV, 5/30, Non-Recourse
• Lender: Chase Bank
• Landlord: Sharif Sayed - Ramo Properties
• Broker Representatives: Matt Swerdlow & Matthew Dzbanek - Ariel Property Advisors
• Units: 23 (2 Commercial & 21 Residential)
• Market: Washington Heights

Ariel Property Advisors facilitated the financing for Ramo Properties' acquisition of 529 West 179th Street, successfully closing in just 40 business days from the execution of a hard contract. Ramo Properties is currently pursuing further mixed-use and multifamily acquisitions valued between $3 million and $15 million in Northern Manhattan, Brooklyn, and Queens.