Prana Investments Acquires Multifamily Building In Morningside Heights For $15.8M

The multifamily property located at 185-187 Claremont Avenue in Morningside Heights has been sold for a total price of $15,800,000. This asset spans across 43,173 square feet, resulting in a price per square foot of $365. The property consists of 59 units, offering a significant housing opportunity in the area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,800,000
• Square Footage: 43,173
• Price per Square Foot: $365
• Number of Units: 59
• Address: 185-187 Claremont Avenue, Morningside Heights

The buyer of this property is Rick Herman, representing Prana Investments. The sale transaction was facilitated by Eric Roth, Robert M. Shapiro, Ian Brooks, and Tyler Signora from Team Shapiro Investment Sales. Their expertise and negotiation skills contributed to the successful completion of the deal.

Please note, this sale marks the final asset transfer for this property, representing a significant milestone for all parties involved.