Alma Realty pays $14.6M to Bernard Muschel for rental in Washington Heights

Alma Realty Corp. through the entity Alma Trenton LLC paid $14.6 million to Bernard Muschel through the entity 165 Bennett Avenue Inc for 79-unit rental (D1) at 165 Bennett Avenue in Washington Heights, Manhattan.
The deal closed on December 15, 2021 and was recorded on January 4, 2022.
The property has 59,952 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $243 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Bernard Muschel was Lee Krantzow. The signatory for Alma Realty Corp. was Efstathios Valiotis.

Bernard Muschel previously signed on a loan for the property.
The owners according to the Department of Housing Preservation and Development includes Lee Krantzow C/O Muschel, head officer and Lewis Feit, officer. The business entity is 165 Bennett Ave Inc.

Within a 400-foot radius of 165 Bennett Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Richard Scharf borrowed $6.2 million from 195 Realty LLC secured by the 54,596-square-foot, 58-unit rental (D7) on 195 Bennett Avenue on February 18, 2021.

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