Lewis Barbanel Sells 433-Unit Multifamily Portfolio In Inwood, Washington Heights & Harlem For $47M

The recent sale in Inwood, Washington Heights, and Harlem, Manhattan involved a multifamily property comprising 433 units. The property, located at 109 Sherman Ave., 113 Sherman Ave., 117 Sherman Ave., 121 Sherman Ave., 125 Sherman Ave., 129 Sherman Ave., 133 Sherman Ave., 252 Sherman Ave., 22 Post Ave., 26 Post Ave., 30 Post Ave., 34 Post Ave., 38 Post Ave., 66 Vermilyea Ave., 519 West 143rd St., & 574 West 161st St., spans a total of 385,968 square feet. The transaction was completed for a sales price of $47,000,000, resulting in a price per unit of $108,545 and a price per square foot of $122.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $47,000,000
• Units: 433
• Price per Unit: $108,545
• Square Footage: 385,968
• Price per Square Foot: $122
• Market: Inwood, Washington Heights & Harlem, Manhattan

Lewis Barbanel acted as the seller in this transaction. The sale was facilitated by Lazer Sternhell and Peter Vanderpool of Cignature Realty Associates, who served as the brokers. With their expertise in New York Metro multifamily and apartment building sales, Cignature Realty has established itself as a leader in the field.