The Reel

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A blog for breaking sales and neighborhood real estate news.

A property at 206-212 Wadsworth Avenue, located on the corner of Wadsworth Avenue and West 184th Street in Manhattan’s Washington Heights neighborhood, was sold in an all-cash transaction valued at $8,000,000.

The property was previously owned and occupied by Wadsworth Avenue Baptist Church Inc. Its primary goal was to set aside space and construct a first-rate facility, with state-of-the-art amenities, specifically designed to meet the programmatic and operational needs of the Church and its programs and activities. The Church will occupy a condominium unit in the new development. The property was purchased by Leo Tsimmer of the Caerus Group.

The site is rectangular in shape and has approximately 100 feet of frontage on Wadsworth Avenue and 150 feet of frontage along West 184th Street.  The site holds approximately 97,422 buildable square feet and the sale price equates to approximately $82 per buildable square foot.

“This was a tremendously complex and rewarding opportunity to work on and see to completion,” said Cushman & Wakefield’s Robert M. Shapiro, who exclusively handled this transaction.  “We are thrilled to have ultimately found the perfect developer, Caerus Group, that was able to understand the terrific development opportunity that exists while ensuring the Wadsworth Baptist Church will continue to flourish in the community in the future,” he continued.   

Click here for full press release

Neighborhoods: Washington Heights/ Agents: Robert Shapiro