GFI BROKERS 16-UNIT MULTIFAMILY BUILDING SALE IN SUGAR HILL

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NEW YORK CITY — GFI Realty Services has brokered the sale of 375 Edgecombe Avenue, a five-story walk-up apartment building in Manhattan’s Sugar Hill neighborhood. A local investor purchased the property for $2.34 million or $146,000 per unit, which translates to 10 times rent roll. Built in 1946, the 12,905-square-foot building features 16 units and is within walking distance to retail, restaurants and the 145th Street and 155th Street subway stations. Daniel Shragaei of GFI represented the seller, a local investor, and Gavin Bolsom, also of GFI, represented the buyer in the transaction.

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