Washington Heights – New York – Sale of Apartment Building
About This Project
Ralph Trionfo represented the buyer in this acquisition consisting of a 21 unit 5-story walk-up building in Washington Heights section of Manhattan. The building is situated on a 50X100 lot with good frontage and a charming façade and easy access to public transportation.
The acquisition presented tremendous rental upside as the rents at the time were well below market. Many of the units were occupied with long-term rent stabilized tenants and many units needed repairs. The buyer is an experienced operator who recognized the inherent value in the properties location and long-term appreciation.