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Deals & Dealmakers

GFI Realty Services Sells Northern Manhattan Residential Condo Package for $3.025MM

GFI Realty Services today announced that it has sold a Northern Manhattan residential condo package across three condominium buildings,  710 Riverside Avenue, 305 West 150th Street, and 42 West 120th Street, for $3.025MM.  GFI Realty Senior Managing Director, Matthew Sparks exclusively represented the seller and the buyer, both local investors.

The package is comprised of seventeen rent stabilized sponsored condo units totaling 15,538 square-feet. 

“The buyer recognized that this offering presents tremendous opportunity as the residential value is estimated to increase by as much as 65% upon vacancy,” said Sparks “In addition, the asset is located in a prime area  where there continues to be growth in the condo market, both new construction and conversions.”

The properties are in proximity to Columbia University, Morningside Park, Marcus Garvey Park and Central Park North.  In addition to the surrounding attractions, the location of the assets offers immediate access to the 2, 3, A, B & C subway lines, various bus routes and Citi Bike stations.

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