The Real Deal New York

Vantage pays $40.2M in Washington Heights

By Adam Pincus | August 12, 2008 03:47PM

Companies affiliated with residential apartment owner Vantage Properties bought two adjacent, six-story buildings in Washington Heights for $40.2 million from a real estate company based in Woodmere, N.Y.

The larger property, a 186-unit elevator building located at 34 Hillside Avenue, sold for $23.1 million. The other, a 155-unit elevator building next door at 2 Ellwood Street, sold for $17.1 million.

The seller was Abro Management, a person with the company said.

The sale closed July 30, according to property records.

Capin and Associates represented both the buyer and seller in the transactions.

“Washington Heights is one of New York’s most vibrant and historic neighborhoods,” Neil Rubler, president and chief executive officer of Vantage Properties, said in a statement.

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