Two80 Real Estate Ventures Acquires Multifamily Building In Harlem For $2.15M

A multifamily property located at 550 West 149th Street in Harlem has been sold for $2,150,000. The property spans 4,165 square feet and was sold at a price of $516 per square foot. It consists of 9 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,150,000
• Address: 550 West 149th Street, Harlem
• Market: Harlem
• Size: 4,165 SF
• Sale Price per SF: $516
• Number of Units: 9

The seller of the property was Glenn Rice. The buyer is Two80 Real Estate Ventures, represented by Jesse Deutch, the Founder & President of the company. Two80 Real Estate Ventures plans to convert the property into 9 Class-A apartments to meet the high demand for rentals in the local area, and to contribute to the development of the Hamilton Heights/West Harlem neighborhoods. The deal was facilitated by Invictus Property Advisors, with Josh Lipton and Andrew Levine serving as the brokers.

For more information on Jesse Deutch's acquisition criteria and inquiries regarding the deal, please contact him at [email protected].