FOR ANY QUESTIONS/INQUIRIES, PLEASE CONTACT:

Peter Takiff646.658.7354ptakiff@easternconsolidated.com
Daun Paris646.658.7323dparis@easternconsolidated.com
Peter Hauspurg646.658.7309phauspurg@easternconsolidated.com

MAILING ADDRESS:

c/o REM Residential36 West 37th Street | 8th FloorNew York, NY 10018

FOR ANY QUESTIONS/INQUIRIES, PLEASE CONTACT:

Peter Takiff646.658.7354ptakiff@easternconsolidated.com
Daun Paris646.658.7323dparis@easternconsolidated.com
Peter Hauspurg646.658.7309phauspurg@easternconsolidated.com

MAILING ADDRESS:

c/o REM Residential36 West 37th Street | 8th FloorNew York, NY 10018

Eastern Consolidated Sells Three-Building Morningside Heights Package for $61.5 Million

-- 3 Buildings include of 130 units across ±113,200 square feet --

NEW YORK, NY – December 21, 2017 – Eastern Consolidated has announced the sale of a three-building, 130-unit, ±113,200-square-foot multifamily portfolio in Morningside Heights for $61.5 million.

Eastern Consolidated Senior Director and Principal Matt Sparks, represented the buyer and procured the seller, both real estate investment firms, in this off-market deal.

The package of buildings consisted of two, six-story elevator apartment buildings on Manhattan Avenue, and one walk-up apartment building on 114th Street.

Metrics for the sale translated to $543 per square foot, $473,000 per unit, 13.5 GRM, and 5.3 percent cap rate.

Eastern Consolidated
Powered by a highly skilled team of 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.com and follow us on Twitter @EasternConsol.


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