November 14, 2017 Comments (0) Views: 238 New York News, Uptown/Bronx New York

$19M for Sec. 8 Building in Hamilton Heights

An investor paid $18.75 million for a 60-unit multifamily building in Manhattan’s Hamilton Heights neighborhood. That works out to a price of $313,000-per-unit.

The five-story property is located at 104-110 W. 144th St. It’s an affordable housing property, and all the two-bedroom apartments are currently subsidized under the U.S. Department of Housing and Urban Development’s (HUD) project-based Sec. 8 program, which helps pay the rent for the residents.

Ariel Property Advisors’ Victor Sozio, Shimon Shkury, Michael A. Tortorici and Matthew Gillis represented the owner and secured the buyer.

Read More at Ariel

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