Castellan Real Estate Partners sold a six-story, 84-unit apartment building in the Washington Heights area of New York City for $18.2 million. The sales price was just about three times higher than the $6.3 million Castellan paid for the asset in 2010.

Joint venture partners Urban American and Dixon Advisory acquired the building at 515 W. 168^th St. Robert Shapiro and Clint Olsen with Cushman & Wakefield brokered the transaction. The property is 40,185 square feet, and consists primarily of one-bedroom apartments and studios. The average rent is $1,491.

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