FOR IMMEDIATE RELEASE
New York, NY – July 19, 2024 – Schuckman Realty is pleased to announce the successful sale of two multi-family buildings located at 111 and 148 W 141st Street, New York, NY. The sale, which closed on July 18, 2024, marks a significant transaction in Harlem’s real estate market, with a sale price of $25,210,891.
Representing the owner in this notable transaction was Sam Schertz of Schuckman Realty, showcasing his expertise in handling prominent real estate deals in New York City. The affordable housing portfolio did not involve any other brokers, emphasizing Schuckman Realty’s capability to independently manage significant affordable housing transactions.
These properties benefit from the Article XI tax abatement with a 610 Amendment in place, making them highly attractive to investors interested in affordable housing rent-stabilized products. This sale represents the second time Sam Schertz has successfully facilitated the sale of these particular buildings, demonstrating his deep market knowledge and client trust.
Sam Schertz commented on the deal, “Article XI is one of the magic words for owners of rent stabilized product. We are proud to manage such properties and guide our clients through the complexities of these opportunities. For those interested in similar properties or learning more about the program, we’re currently marketing a similar type of portfolio in the Bronx.”
Schuckman Realty continues to be a leader in New York’s real estate market, providing unparalleled service and expertise to their clients. For more information or inquiries about available properties, please contact Sam Schertz.
Keywords: investment sales, multifamily, multi-family sales, cre, property sales, property sale
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