Prana Investments buys third property since November, this one for $8M in Washington Heights

Prana Investments through the entity 20 Sherman Ave. LLC paid Lewis Barbanel and Robert Silverman’s 20 Sherman Holding Lp $7.9 million for 20 Sherman Avenue in Washington Heights. The deal closed on February 12, 2020, and was recorded on February 18, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 41 residential units. The property is 41,000 square feet. The parcel(s) have total development potential of 41,000 square feet.
The sale price per unit is $191,463.

The last time the property sold was March 6, 2014, for $6,100,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $366,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link