Francine Liebman Of D.J. & B. Realty Corp. Sells Washington Heights Multifamily For $5.3M

The property asset involved in this transaction is a multi-family building located at 480 Audubon Avenue, in the Washington Heights market. The sale price is $5,300,000, and it comprises 62 units with a price per unit of $85,483. The total square footage is 55,208, resulting in a price per square foot of $96. The deal reflects a gross rent multiplier of 5.3x and a capitalization rate of 8.1%.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $5,300,000
• Units: 62
• Price Per Unit: $85,483
• Square Footage: 55,208
• Price Per Square Foot: $96
• Gross Rent Multiplier: 5.3x
• Cap Rate: 8.1%
• Seller: Francine Liebman - D.J. & B. Realty Corp.
• Broker Representatives: Amit Doshi & Shallini Mehra - Meridian Capital Group

This transaction marks the first sale of the property in 75 years, highlighting a significant shift in its ownership history. The brokers involved in this deal, Amit Doshi and Shallini Mehra, represent the interests of the seller, D.J. & B. Realty Corp.