Manhattan, NY: Schuckman Realty is pleased to announce the sale of a multi-family building at 215 West 109th Street, New York, NY 10025 in the Manhattan Valley neighborhood. The building, which is located at the corner of Broadway and Amsterdam Avenue sold for $7,000,000.
Sam Schertz of Schuckman Realty exclusively represented the seller in marketing of the value-add property. Sam and the Schuckman Team facilitated over 25 tours and had a handful of bidders at the final line making their best efforts to win the deal.
Mr. Schertz said of the transaction. “The building had been floating around off market for a few months, but once our team was able to run our marketing process, we were able to push pricing over 10% higher then were previous offers were coming in.”
The buyer of this property should do very well in the near term, being able to capitalize on below market rents in the 70% Fair Market Property.
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About Schuckman Realty Inc.: Schuckman Realty is a full service commercial real estate services firm serving New York City, Long Island, New Jersey, and the surrounding tri-state area. The Investment Sales team at Schuckman Realty Inc. brings vast and nuanced market knowledge, insight, and ingenuity to your portfolio from inception to completion. Schuckman Realty offers expertise in determining a property’s best use in terms of value gains to investors, extensive research and vetting process, access to qualified buyers and a proven sales & marketing team with a creative approach to maximize value.
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