March 16, 2017
Investors bought and sold six commercial real estate properties valued at a total of $61.6 million in Northern Manhattan in 2016. That’s down 89% and 45%, respectively, from the month before, according to Ariel Property Advisors.
However, despite the drop off from a particularly active December, several significant transactions occurred in January 2017.
In East Harlem, a 45-unit elevator building at 109 E. 102nd St. sold for $14.7 million, or $488 per square foot. Another noteworthy trade was in Inwood at 48 Post Ave. where the 29-unit walk-up building sold for $5.83 million. That works out to a price per square foot of $261, and a price per unit of $201,121.
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