SELLING POINTS: Israeli investors sell Harlem portfolio for $34M; Kushner Group partners on development site deal | Real Estate Weekly
SELLING POINTS: Israeli investors sell Harlem portfolio for $34M; Kushner Group partners on development site deal
SELLING POINTS: Israeli investors sell Harlem portfolio for $34M; Kushner Group partners on development site deal | Real Estate Weekly
Midtown-based investment and management firm Rhodium Capital Advisors has paid $34.1 million for a six-building Harlem portfolio.
GFI Realty Services announced the sale of the properties located at 100 West 143rd Street, 118 West 137th Street, 210 West 133rd Street, 22 Bradhurst Avenue, 243 West 135th Street and 515 West 156th Street. It includes 109 apartments and nine retail spaces across 89,873 s/f.
GFI Realty managing director of investment sales Roni Abudi represented the sellers, Israeli investors Arik Mor and Uriel Zichron, while associate directorDaniel Shragaei represented the buyer.
“The buyer immediately recognized the strength of the neighborhood and saw an opportunity to upgrade the properties, which are well located and offer high upside potential in the near future,” said Abudi. “With the properties situated near numerous restaurants, coffee shops and universities, we expect the buyer will likely realize a substantial return on their investment.”
Rhodium Capital Advisors, which Abudi said is actively seeking additional properties in Upper Manhattan, plans to invest $10 million to update all six properties.