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476 West 165th Street

Avi Dishi's Elysee Investment Corp Acquires Multifamily Property In Washington Heights For $8.8M
SOLDMultiFamily

Avi Dishi's Elysee Investment Corp Acquires Multifamily Property In Washington Heights For $8.8M

476 West 165th Street, 2153 Amsterdam Avenue & 503 West 164th Street

$8,800,000

$27/SF

Building Size

317,811 SF

Asset Type

MultiFamily

Closing

Apr 3, 2025

AI

The property involved in this transaction consists of three residential walkup buildings situated at 476 West 165th Street, 2153 Amsterdam Avenue, and 503 West 164th Street, located in the Washington Heights market of Manhattan. The total sale price for these multifamily assets was $8,800,000, encompassing 101 units with a price per unit of $87,129. The overall square footage of the properties is 105,937, resulting in a price per square foot of $83.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,800,000
  • Buyer: Avi Dishi - Elysee Investment Corp
  • Seller: Alexander Hajibay - Heritage Realty
  • Total Units: 101
  • Price Per Unit: $87,129
  • Total Square Footage: 105,937
  • Price Per Square Foot: $83

Avi Dishi’s Elysee Investment Corp facilitated the acquisition through Ritz Partners LLC, acquiring the properties from Alexander Hajibay’s Heritage Realty. This deal emphasizes the ongoing activity in the multifamily market within the Washington Heights area of Manhattan.

Players

Avi Dishi

Buyer

$255.5M

vol

8 deals

Buyer
HR
Heritage RealtySeller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.80%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93