New York & Tri-State + Uptown/Bronx | January 25, 2019

Two New Builds in Northern Manhattan Come to Market

Avison Young’s New York investment sales team is marketing for sale two mixed-use properties in Northern Manhattan’s Hamilton Heights and Washington Heights neighborhoods. The asking price for the portfolio is $47.5 million.

A team of James Nelson, Sam Shertz and Allan Fries is marketing the 75,977-square-foot portfolio on behalf of the owners, Cogress Capital and HRECP, an investment and development company. It totals 72 residential units and two community facilities distributed between the two new-build properties, 306 W. 142nd St. and 531 W. 159th St. (pictured)

“It is unusual to come across the opportunity to acquire two new construction properties in such a fantastic, unique location,” said Nelson.

He added, “Upper Manhattan’s excellent transportation access along with significant public and private investment enhance the long-term desirability for residents and retailers, and continue to establish both Hamilton Heights and Washington Heights as two of the most promising residential markets in Manhattan.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).