MORTGAGE NOTE ON TWO NYC APARTMENT BUILDINGS SELLS FOR $7.8M

NEW YORK CITY — A defaulted mortgage note on two adjacent multifamily properties in New York City’s upper west side have been purchased for $7.8 million. The five-story walk-up apartment buildings are located at 132 and 134 W. 109th St. and are a combined 18,720 square feet. The buildings have recently received new roofs and refurbished hallways and corridors. Eastern Consolidated’s Eric Anton and Ronald Solarz represented the owner, a European bank, at the foreclosure sale. A private New York City family, under the corporate name West 109th Holdings, purchased the note. Steven Holm, an attorney with Holm & Drath, represented the family and John C. St. Jeanos, an attorney with Herrick, Feinstein, represented the seller in the transaction.