Harlem World

I see white people, originally uploaded by dM.nyc™.

This one just flew across my radar. A large real estate transaction involving multiple properties in Harlem that seems out of place in light of the financial woes facing the Real Estate and Financial sectors.

"A 21-building portfolio of walk-up apartment buildings in northern Manhattan has sold to an unidentified buyer for $54 million. Known as "the New 118th Upper Manhattan Portfolio," the properties, all in Washington Heights and central Harlem, were sold in an all-cash transaction by Richard Wasserman, a bankruptcy trustee representing a group of investors.

The properties include: 463-467 W. 159th St.; 2180-2182 Amsterdam Ave.; 503-507 W. 176th St.; 531 W. 179th St.; 704 W. 180th St.; 559-561 W. 183rd St.; 510-524 W. 184th St.; 507 W. 184th St.; 515 W. 184th St.; 516-520 W. 188th St.; 283-285 Audubon Ave.; 70-72 Pinehurst Ave.; 500 W. 190th St.; and 234-236 E. 118th St. Shimon Shkury, partner in Massey Knakal, tells GlobeSt.com the purchase price represents approximately $115,000 per unit...

Read the full article via Globe St.com Google Cache

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