Olnick Organization pays $19M to Synapse Capital and Taurus Investment Holdings for rental property in Hamilton Heights

Olnick Organization through the entity Roc-West 153rd Street Associates, LLC paid Synapse Capital and Taurus Investment Holdings’s 542 W 153 Owner LLC $19.0 million for 542 West 153rd Street in Hamilton Heights. The deal closed on October 28, 2019, and was recorded on October 30, 2019. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 34 residential units.
The sale price per unit is $558,824.
The estimated cap rate is 2.4%
The last time the property sold was December 4, 2013, for $3,600,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 34 residential (or hotel) units on October 26, 2017.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 29,561 square feet. Those plans include a total of 34 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link