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West End Avenue Building Sold for $28.5 Mil

NEW YORK CITY-What made the 16-story apartment rental attractive was that 75% of the buildings in the area have been converted to cooperative or condominium ownership.

By John Howe | Updated on January 23, 2001

NEW YORK CITY-The family-owned apartment building at 585 West End Ave. has been sold for $28.5 million in cash to 585 West End Avenue Realty LLC. The 16-story building, which has 129 apartments and three professional units, was sold for about 12 times the rent roll.

Constructed in the 1920s, the building was purchased by its former owners in 1955, according to Marcia Rose Yawitz, a director at Eastern Consolidated Properties, who represented the seller and acquired the buyer. Ike Kaplowitz, Esq. dealt for West End Avenue Realty.

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