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A portfolio of seven elevator buildings, known as the Broadway West Portfolio, located throughout the Hamilton Heights and Washington Heights sections of Northern Manhattan were sold in an all cash transaction valued at $62,000,000. The portfolio includes the following properties: 3421 Broadway, 610 West 157th Street, 3851 Broadway, 559 West 164th Street, 4141 Broadway, 4151 Broadway and 4180 Broadway.

The Broadway West Portfolio consists of seven elevator buildings, containing 361 residential units and 28 commercial units with a combined square footage of over approximately 434,605 square feet. This package offers tremendous upside potential on both the residential and commercial fronts.

“The momentum in the multifamily market created by a very low supply of properties for sale and extraordinarily low interest rates has been remarkable. Properties are selling as rapidly as they were at the peak of the market in 2007,” said Massey Knakal Chairman Robert A. Knakal who exclusively represented the seller along with First Vice President of Sales Robert Shapiro. They were the sole brokers in this transaction.

Click here for press release

Neighborhoods: Hamilton Heights, Washington Heights/ Agents: Robert Shapiro