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Paz Family Closes on 40-Unit Apartment Sale

NEW YORK CITY-Two apartment buildings on the Upper West Side, composed of 18,720 sf, go to a UK investor for just under $10 million.

By Natalie Dolce | Updated on August 30, 2007

(Read more on the multifamily market.)

NEW YORK CITY-A pair of two five-story walk-up apartment buildings, composed of 18,720 sf and 40 units, has traded for just under $10 million. The pair, built in 1986, is situated on New York City’s Upper West Side at 132-134 W. 109th St.

Only 10 out of the 40 units have been renovated and average rental rates are $1,550 per month. “The building showed great upside potential,” says Alan P. Miller, a senior director at locally based Eastern Consolidated, who along with Aliza Avital represented the seller. Miller adds that the popular location was also a driver in the deal. The buildings are located between Columbus and Amsterdam avenues.

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