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    50 Overlook Terrace

    50 Overlook Terrace
    New York, NY 10033
    Residential, Leasing/Rental, Multifamily
    • Address 50 Overlook Terrace
    • neighborhood Washington Heights
    • borough Manhattan
    • owner Urban American Management
    • owner entity LICHTER REAL ESTATE
    • floors 6
    • Year Built 1940
    • residential units 58
    • total units 58
    • square feet 58,750
    • block and lot 1-02180-0182
    • BIN 1064439

    While competitors like Pinnacle have been selling, Urban American, led by Philip Eisenberg and his son Douglas, have been bargain-hunting, as well as acquiring nonperforming loans and providing needed capital to distressed owners. Using such strategies, the company has purchased five assets for $43.2 million citywide since the beginning of 2009. Three buildings in Upper Manhattan with a total of 200 units, including 50 Overlook Terrace, were purchased from longtime owner Alco Realty for an average cost per unit of $123,000...