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Apartment Portfolio Goes for Over $11M

NEW YORK CITY-Centerline sheds the buildings, located just one block north of Central Park, to a private investor from Queens for $141.79 per sf.

By Natalie Dolce | Updated on January 14, 2008

(Read more on the multifamily market.)

[IMGCAP(1)]NEW YORK CITY-A corner walk-up apartment building and three-elevatored apartment buildings located one block north of Central Park at 201, 203-205, 217 and 233 W. 111th St. was sold in an all-cash transaction valued at $11.1 million. A source close to the deal tells GlobeSt.com that the private investor was John Sismanoglou from Queens, who was attracted to the portfolio due to its size and proximity to Central Park.

[IMGCAP(2)]The source explains that the seller of the portfolio was locally based Centerline, however they were unable to determine reasons for selling at this time. The West 111th Park North portfolio is located on the north side of West 111th Street between Adam Clayton Powell and Frederick Douglass boulevards. Two of the four buildings are adjacent, and all four span approximately 78,331 sf including 87 apartments and two super’s units.

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