REBusinessOnline

TWO MANHATTAN MULTIFAMILY BUILDINGS SELL FOR $23.7M

NEW YORK CITY — Cignature Realty Associates has arranged the $23.7 million sale of two corner apartment buildings totaling 95 units in the Washington Heights neighborhood of Manhattan. The buildings are located at 4240 Broadway and 4300 Broadway. Cignature represented the seller, Heights Equities Inc., and the buyer, Crest Realties, a Canadian-based real estate investment group. Heights Equities is a local real estate investor, which has owned both buildings for 30 years. Both buildings are six stories, and 4300 Broadway spans 52,598 square feet and includes 54 units, while 4240 Broadway spans 59,200 square feet and totals 41 apartments.

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