November 14, 2017
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.