facebook


Go ProSubmit a deal
Submit
Home

/

Deals

/

New York

/

Multifamily

/

Sale

/

50 W 139th St, New York, NY...

Updated Oct 15, 2026

Fairstead Affordable Acquires Multifamily Property In Central Harlem For $75.5M
SOLDMultiFamily

Fairstead Affordable Acquires Multifamily Property In Central Harlem For $75.5M

50 W 139th St, New York, NY 10037, USA

$75,500,000

$394/SF

Building Size

191,550 SF

Asset Type

MultiFamily

Closing

Oct 10, 2019

About this deal

AI

The multifamily property located at 560 Lenox Avenue and 50 West 139th Street in Central Harlem has been sold for a price of $75,500,000. The seller, Harlen Housing Associates L.P., represented by Michael Greenberg, has completed the transaction with the buyer, Fairstead Affordable, represented by Stephen Spiegel. The buyer was assisted by Ariel Property Advisors, with Victor Sozio playing a key role in the deal.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $75,500,000
  • Total Square Footage: 191,550
  • Price per Square Foot: $391
  • Number of Units: 214
  • Price per Unit: $350,467

This sale represents a significant transaction in the Central Harlem market. The property comprises a multifamily asset with 214 units, totaling 191,550 square feet. The transaction was facilitated by Harlen Housing Associates L.P., represented by Michael Greenberg, and Fairstead Affordable, represented by Stephen Spiegel. Victor Sozio of Ariel Property Advisors played a crucial role as a broker in the deal.

On the Map

Open live map

$75,500,000

$394/SF

MultiFamily

View full map

Players

Matthew Gillis

Ariel Property Advisors

Broker

$295M

vol

25 deals

Broker

Stephen Spiegel

Fairstead

Buyer

$75.5M

vol

1 deal

Buyer
HL
Harlen Housing Associates L.P.Buyer
Michael Greenberg

Michael Greenberg

Harlen Housing

Seller

$79.7M

vol

3 deals

Seller
Bilt advertisement

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Deal FAQ

About $394 per square foot on a published $75.5M for 191,550 square feet (2019).

Visit Victor Sozio to view all their deals.

Browse New York multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.21%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets