The portfolio was listed and under contract within two weeks, with 10 offers within 72 hours. This is a true testament to the uniqueness of the properties and the interest in the Hamilton Heights neighborhood.
HARRISON, N.Y. (PRWEB) June 06, 2019
RM Friedland, a commercial real estate brokerage company serving the Tri-State Metropolitan Area, is pleased to announce that Team Lala, led by senior vice president Marco Lala, has negotiated the sale of a nine building portfolio in the Hamilton Heights area of Manhattan for $30 million. With 107 units totaling 91,395 square feet, the deal encompasses two clusters of multi-family buildings at West 141st Street: 606, 610, 614 and 622 Saint Nicholas Avenue and 129, 133, 135, 137 and 139 Edgecombe Avenue.
“This was the first sale for these family-owned properties in nearly 30 years, and we were thrilled with the reception,” said Lala. “The portfolio was listed and under contract within two weeks, with 10 offers within 72 hours. This is a true testament to the uniqueness of the properties and the interest in the Hamilton Heights neighborhood.”
This portfolio provided a rare opportunity to acquire a cluster of gut renovated multifamily assets adjacent to City College. The growing student population in Hamilton Heights made this income producing listing attractive for potential buyers. The neighborhood’s restaurants, smart cafes and 30-minute commute to midtown via two MTA train stations serve the local student body, faculty and professional residents. The deal encompassed 105 residential units, two commercial units, a cell tower and a superintendent’s unit.
“Team Lala has been a tremendous asset to RM Friedland in helping launch our Investment Sales division,” said Sarah Jones-Maturo, president. “This deal is testament to the team’s market expertise, hard work and dedication to their clients.”
Maro Lala is joined on the team by David Raciti, Jack Lala and Michelle Lala. For more information on RM Friedland’s investment exclusives, visit http://www.rmfriedland.com or call 914-968-8500.
About RM Friedland
RM Friedland is a commercial real estate brokerage company serving the Tri-State Metropolitan Area. The company relies on a team of talented veteran and junior brokers who represent all asset classes with a focus on multi-family, industrial, retail and office. Its brokers are supported by robust databases and a capable staff that is dedicated to the success of each broker. The firm launched an Investment Sales Division in 2018. RM Friedland is located at 440 Mamaroneck Avenue in Harrison, N.Y., and can be reached at 914-968-8500 or by visiting http://www.rmfriedland.com.