Multifamily

NEW YORK CITY — Chicago-based Acuity Capital Partners has purchased a six-building portfolio in Upper Manhattan for $30 million. The portfolio consists of 102 apartment units and 21 retail spaces. The buildings include 1697-1701 Amsterdam Ave. in Hamilton Heights, 2500-2504 Adam Clayton Powell Blvd. in Harlem and 2090-2093 Amsterdam Ave. in Washington Heights. The portfolio sold for 12.88 times its current rent roll. Peter Vanderpool and Lazer Sternhell of Cignature Realty Associates represented the buyer and seller, a local real estate investor, in the deal.

NEW YORK CITY — Alpha Realty has brokered the sale of a multifamily property located at 306 Fifth Ave. in Brooklyn’s Park Slope neighborhood. The asset, which features 10 residential units and one commercial unit, sold for $8.3 million. Additionally, the six-story, 16,525-square-foot building has a 421(a) tax abatement in effect until 2025. The sellers were the original developers of the building, and the buyer was a private Manhattan-based investor. The transaction achieved a 19.8x rent roll multiple and a cap rate of 4.6 percent. Lev Mavashev of Alpha Realty represented both parties in the deal.

NEW YORK CITY — Ariel Property Advisors has brokered the sale of a multifamily building in Central Harlem and a development site in East Harlem for a combined total of $5.8 million. In the first transaction, a real estate investment firm purchased 227 West 150th St. in Central Harlem for $3.6 million. The five-story, 14,554-square-foot building features 21 residential units. In the second transaction, a developer acquired a development site at 318 East 117th St. in East Harlem for $2.2 million. The property includes a three-story, vacant warehouse and features approximately 7,569 buildable square feet. Victor Sozio, Michael Tortorici, Josh Berkowitz and Marko Agbaba of Ariel Property represented the sellers and procured the buyers in both deals.