The Real Deal New York

Inwood rental portfolio changes hands for $18M

Four five-story properties span a total of 111K square feet
July 02, 2014 02:25PM

The Hamilton Group acquired a four-building portfolio in Inwood from an affiliate of landlord City Skyline Realty for a total of $18 million, brokerage Besen & Associates told The Real Deal

The properties – five-story rental buildings at 150-152, 154, 158-160 and 170 Vermilyea Avenue – span more than 111,000 square feet total. Three of the buildings are contiguous and collectively hold 88 units. The fourth site, at 170 Vermilyea Avenue, has 41 apartments.

Besen & Associates brokers Greg Corbin, Amit Doshi and Morris Arlos represented both the buyer and the seller. The Hamilton Group owns more than 12 multi-family buildings in Inwood and Washington Heights, according to a spokesperson for Besen & Associates.

In May, the brokerage was hired to market a seven-building apartment complex occupying a full block in East Flatbush asking $35 million, as previously reported. Mark Maurer