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Compass’ Adelaide Polsinelli Closes on Sale of West Village Rentals
Vice chairman Adelaide Polsinelli and her Compass colleague Udi Eliasi closed on the sale of a West Village residential property at 661 Washington St. The final purchase price was $8,400,000.
“This neighborhood is best known for its concentration of some of the city’s premiere residential properties,” said Polsinelli. “With steady confidence and investment of capital, even in a pandemic, the West Village will always be a solid residential destination.”
However, getting the deal to the finish line was not without challenges, due both to New York State’s 2019 rent reforms and the impact of COVID-19 on the market. Polsinelli found a buyer who understood the new landscape and appreciated the fact that they were buying an asset that would not be attainable at any other time in the real estate cycle.
“What better time to buy, than at the bottom of a 10-year cycle?” Polsinelli said.
- ◦Sale/Acquisition
