MHANY Stella Heights Housing Development Fund pays $7M to Broadway Housing Development Fund Company, Inc. for property in Washington Heights

MHANY Stella Heights Housing Development Fund Corp. paid Broadway Housing Development Fund Company, Inc. $6.9 million for 575 West 155th Street and 530 West 178th Street in Washington Heights. The deal closed on September 6, 2019, and was recorded on September 17, 2019. The transaction consists of 83 residential units in 2 parcels, including the tax class multifamily, converted dwelling or rooming house (C5). The property is 23,790 square feet. The parcel(s) have total development potential of 23,790 square feet.
The sale price per unit is $82,530.
The estimated cap rate is 4.1%

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article