2021 Lawyers in Real Estate Awards
Last year, the Connect CRE team followed up our well-received Next Generation Awards and Women in Real Estate Awards with the inaugural Lawyers in Real Estate Awards. For...
2021 Women in Real Estate
Announcing the 2021 Winners for the Connect CRE Women in Real Estate Awards.
From hundreds of submissions, we have highlighted women with achievements and...
2021 Next Generation Awards
Connect Commercial Real Estate is proud to present the winners of our 2021 Next Generation Awards. In one of the most challenging years on record for the industry,...
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Investors paid $40.1-million for two six-story buildings in Manhattan’s Washington Heights neighborhood.
“Getting a deal signed on acceptable terms was an uphill battle… in repeated instances, negotiations fell through because would-be buyers and the seller didn’t see eye-to-eye,” said Michael Weiser, president of GFI Realty Services, which represented both the seller, Scandinavian Homes, and the buyer, a joint venture of Olshan Properties and Millhouse Properties.
For six decades, the seller’s family had owned 385 and 395 Fort Washington Ave., which total 115 apartments and four office units, nearly all of which are occupied.
“With most units renting well below market rates, this two-building package gives the buyers a lot of room to add value over the long term,” said Weiser. Located at the foot of the George Washington Bridge, they are within a block of the A train, which provides express service to Midtown.