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Package of Northern Manhattan Condo Units Trades for $3M
GFI Realty Services has sold a Northern Manhattan residential condominium package across three condo buildings—710 Riverside Ave., 305 W. 150th St. and 42 W. 120th St.—for $3.025 million. Senior managing director Matthew Sparks represented the seller and the buyer, both local investors.
The package is comprised of 17 rent stabilized, sponsored condo units totaling 15,538 square feet.
“The buyer recognized that this offering presents tremendous opportunity as the residential value is estimated to increase by as much as 65% upon vacancy,” said Sparks. “In addition, the asset is located in a prime area where there continues to be growth in the condo market, both new construction and conversions.”
All three properties are in proximity to Columbia University, Morningside Park, Marcus Garvey Park and Central Park North.
- ◦Sale/Acquisition
