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Washington Heights MF Building Sold for $7M
Barberry Rose Management, a property management firm based on Long Island, has sold a 32-unit multifamily building in Washington Heights, New York, for $7.05 million.
The building, located at 720 West 172nd Street, was built in 1918 and offers 36,125 square feet of space, along with 8,273 square feet of air rights. The sale resulted in a cap rate of seven percent and a GRM (Gross Rent Multiplier) of 8.5%.
The transaction was facilitated by Rosewood Realty Group, with Aaron Jungreis, Ben Khakshoor, and Alex Fuchs representing both Barberry Rose Management and the buyer, Two80 Real Estate Ventures, a private investor.
- ◦Sale/Acquisition
