Two adjacent buildings at 506 & 510 West 150th Street, located between Broadway and Amsterdam Avenue in Washington Heights, was sold in an all cash transaction valued at $6,350,000.
506 & 510 West 150th Street are two adjacent 50’ wide walkup apartment buildings, containing a total of 61 residential units (including 1 supers unit). The properties boast 100’of combined frontage on the south side of West 150th Street. Specifically, the 150th Street block is considered extremely desirable because of the high potency of renovated one, two, and three family homes. These properties have both been very well maintained and 37 of the 61 units have been recently renovated.
“Multifamily residential properties such as these two assets continue to remain in extraordinary demand. Investors are continuing to seek out properties with significant upside potential while the ability to achieve low interest rate financing is plentiful” said Massey Knakal First Vice President of Sales Robert Shapiro who exclusively handled this transaction.
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Neighborhoods: Washington Heights/ Agents: Robert Shapiro