Prana Investments Acquires Multifamily Property In Washington Heights For $7.8M

The multifamily property located at 555 W. 173rd St. in Washington Heights has been sold for a price of $7,775,000. The property consists of 54 units with an average price per unit of $143,981. The total square footage of the property is 45,000 with a price per square foot of $172.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,775,000
• Units: 54
• Price per Unit: $143,981
• Square Footage: 45,000
• Price per Square Foot: $172
• Market: Washington Heights

The buyer of the property is Prana Investments, represented by Richard Herman. The seller, on the other hand, is Miroztnick & Associates, with Michael Miroztnick as the representative. The deal was facilitated by CBRE, with Daniel Kaplan, Dean Rosenzweig, Justin Arzi, and Stefani Steinberg serving as brokers.