What $20M Gets You in Harlem
Manor Properties has acquired two multifamily buildings in Harlem totaling 131 units from AWM Holding LLC for $20 million, or about $152,700 per unit. The properties sold with an in-place cap rate reported at 5.7%.
The deal includes 408-410 130th St. and 446-458 W. 162nd St. The six-story, 63,264-square-foot property on 130th St. was built in 1926 and has 83 units, while the six-story building on W. 162nd St. totals 37,020 square feet and 48 units, and was built in 1910.
Source: CoStar.com
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