Omni makes first Manhattan buy

January 21, 2010 11:30AM

Former New York Mets first baseman Mo Vaughn’s Omni NY has purchased its first Manhattan property, at 2059-71 Madison Avenue in Harlem. The all-cash sale closed at $5.5 million with Massey Knakal representing the seller, a private investor called Madison 2059-71 LLC, and Omni. 2059-71 Madison Avenue consists of two adjacent buildings spanning 130th to 131st streets. They contain a total of 53 residential units, all under a Section 8 contract with the U.S. Department of Housing and Urban Development. Omni NY, an affordable housing development company, plans on renovating the buildings and will continue to operate them as affordable housing, according to a press release from Massey Knakal. At the end of last year, Omni successful bid for 14 troubled South Bronx buildings owned by Ocelot Capital Group. TRD

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