Eli Stoll Of Three Pillars Acquires Mixed-Use Development In Washington Heights For $15.3M
4452 Broadway & 44 Fairview Avenue
$15,275,000
$69/SF
Building Size
109,528 SF
Asset Type
Mixed-use
Closing
Sep 4, 2025
About this deal
AI
A mixed-use asset located at 4452 Broadway and 44 Fairview Avenue in the Washington Heights area of Manhattan was sold for $15,275,000. The property spans a total square footage of 109,528 and has a price per square foot of $139.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $15,275,000
- Buyer: Eli Stoll - Three Pillars
- Seller: Josh Zegen - Madison Realty Capital
- Transaction Date: 09/04/2025
- Market: Washington Heights, Manhattan
This transaction involved Eli Stoll representing Three Pillars, which acquired a stalled 129-unit development and adjacent site. The sale followed Madison Realty Capital's takeover of the property from HAP Investments after an event of bankruptcy.
On the Map
$15,275,000
$69/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93