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Sugar Hill Capital Acquires Four-Building Apartment Portfolio in Manhattan for $65M

472-Central-Park-West-NYC

Located at 471-476 Central Park West in Manhattan, the four-building multifamily portfolio features 125 apartments.

NEW YORK CITY — Sugar Hill Capital Partners has acquired a four-building multifamily portfolio located in Manhattan’s Upper West Side. Benjamin Hadar and Leonard Solomon of Upwest Co. sold the properties for $65 million, or $1,050 per square foot. Located at 471-476 Central Park West, the properties feature a total of 125 apartments, most of which are rent-regulated units. Additionally, the portfolio site allows for the development of a 92,000-square-foot structure, with an additional 30,000 square feet in air rights. Lazer Sternhall and Peter Vanderpool of Cignature Realty represented the buyer and seller in the transaction.

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