Barberry Rose buys Inwood multifamily portfolio for $64M

The 13 rental buildings on Sherman, Post avenues hold a combined 363 units

TRD New York /
Dec.December 23, 2016 12:30 PM

Lewis Barbanel and Barberry Rose Management’s Inwood acquisitions

Lewis Barbanel’s Barberry Rose Management bought a 13-building Inwood multifamily portfolio from Silvercup Studios’ property arm for $63.6 million.

The Long Island-based landlord shelled out about $175,000 per unit to buy the 363-unit portfolio, property records filed with the city Friday show.

The portfolio includes seven contiguous five-story walk-ups at 109, 113, 117, 121, 125, 129 and 133 Sherman Avenue with a combined 187 units, all of which are rent-stabilized, according to Reonomy. Abutting those buildings on the other side of the block facing Post Avenue, there are five buildings at 22, 26, 30, 34 and 38 Post Avenue with 126 stabilized units.

The portfolio also includes a 50-unit walk-up about a block away at 66 Vermilyea Avenue, which has 39 stabilized units.

Representatives for Barberry and Silvercup were not immediately available for comment.

Silvercup’s real estate arm has owned the properties in the portfolio since at least 1979, records show. In June, Barberry, a family firm led by Barbanel, picked up a 54-unit Washington Heights apartment building for $16.2 million.

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