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JLL closes on $17.5M in Upper Manhattan multifamily sales

JLL Capital Markets announced today that it has closed on two Upper Manhattan multifamily sales totaling $17.5 million.

353 Fort Washington Ave., a six-story, 36-unit, 54,800-square-foot, elevatored residential building located in Hudson Heights sold for $6.5 million

JLL represented the seller, The Lewner Estate. Alma Realty acquired the property.

The building occupies the entire southern block-front along West 176th Street between Fort Washington and South Pinehurst Avenue and directly overlooks J. Hood Wright Park. The unit mix consists of spacious two-, three- and four-bedroom units and one studio apartment.

The property features convenient subway access via the A line, located one block away at W. 175th St. New York Presbyterian Hospital is located seven blocks south of the property.

The JLL Capital Markets team representing the seller was led by Chairman Bob Knakal; Managing Directors Jonathan Hageman, Clint Olsen and Hall Oster and Vice President Teddy Galligan.

The team also brokered the sale of 258 West 97th St., a 50-foot-wide, 26,334 square foot, seven-story single room occupancy (SRO) on the Upper West Side for $11 million.

JLL represented the seller, Impulsive Group. Fortune Society acquired the property.

The property has historically operated as a hotel and is presently configured as 94 rooms. 39 of the building’s 94 rooms feature private bathrooms, and two common bathrooms are on each floor.

258 West 97th St. is one block from the extensive shopping, dining and retail offerings along Broadway and one block from subway service on the 1, 2 and 3 lines from the 96th Street Station. The property is conveniently located two blocks east of Riverside Park and three blocks west of Central Park.

“The property’s proximity to Broadway and former use as a hotel presented a unique opportunity for housing end-users seeking to utilize the existing configuration for their own operations,” Oster said. 

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