In The News

by Liam La Guerre
— December 2016
Source:
Commercial Observer

Washington Heights Rental Sells for $18.2M, Triple Its Previous Price

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Castellan Real Estate Partners has sold a six-story Washington Heights property for $18.2 million, about three times what it paid for the 84-unit rental building six years ago, Commercial Observer has learned.

A joint venture of property manager Urban American and Australian real estate management company Dixon Advisory, both of which are in the residential space, are the buyers of the elevator building at 515 West 168th Street between Audubon and Amsterdam Avenues. Castellan purchased the property for just $6.27 million in September 2010, according to city records.

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by Tanay Warerkar
— November 2016
Source:
Curbed New York

Alexander Hamilton Jr.‘s East Village house will be restored with LPC approval

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Less than a year after it was purchased, the East Village home that once belonged to Alexander Hamilton’s son is now ready for a makeover. On Tuesday, the city’s Landmarks Preservation Commission approved a proposal to restore and renovate the landmarked building located at 4 St. Mark’s Place, YIMBY reports.

The Commission wasn’t on board with all of architecture firm, SWA Architecture’s ideas. For instance, the firm proposed the addition of a fifth floor to the four-story building, which would have destroyed the historic rear dormers of the building. They also proposed an additional window in the basement, and signage at the front, but Landmarks did not approve all of the above.

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by Terence Cullen
— July 2016
Source:
Commercial Observer

From the Commercial Observer: Castellan Sells Three Washington Heights Res Buildings for $15.4M

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Brooklyn-based Guardian Realty Management has scooped up a trio of Washington Heights buildings from Castellan Real Estate Partners, Commercial Observer has learned. The new buyer paid about $15.4 million for the three multifamily buildings in a sale that closed yesterday, according to a press release from Meridian Investment Sales. All within less than 10 blocks of each other, the buildings have a combined 69 rentals units.

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by Amy Works
— March 2016
Source:
RE Business Online

Castellan Real Estate Partners Sells Multifamily Building in Manhattan for $8.5M

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Castellan Real Estate Partners has completed the disposition of a multifamily building located at 511 W. 151st St. in Manhattan’s Hamilton Heights neighborhood. The five-story asset sold for $8.5 million, or $320 per square foot.

The 26,630-square-foot building features 31 apartment units with an average size of 730 square feet. Robert Shapiro, Clint Olsen and Josh Lipton of Cushman & Wakefield represented the seller in the transaction. The name of the buyer was not disclosed.

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by Lauren Elkies Schram
— March 2016
Source:
Commercial Observer

Castellan Real Estate Partners Sells West Harlem Portfolio for $42.1M

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Brothers Paul and John Salib of Castellan Real Estate Partners have sold a trio of contiguous mid-rise primarily rent-stabilized multifamily buildings in Central Harlem to a partnership between Guardian Realty Management and father-and-son Irving and Michael Langer of E&M Associates for $42.1 million, Commercial Observer has learned.

There are 144 residential units in the elevator buildings, which are at 117-125 West 141st Street, 127-135 West 141st Street and 137-145 West 141st Street, between Lenox Avenue and Adam Clayton Powell Jr. Boulevard.

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by Kristine Wolf
— February 2016
Source:
New York Real Estate Journal

Sozio, Shkury, Tortorici and Berkowitz of Ariel secure $8 million sale of 701 West 135th Street to Castellan Real Estate

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Manhattan, NY Ariel Property Advisors arranged the $8 million sale of 701 West 135th St., a two-story commercial building located in the borough’s West Harlem neighborhood.

Exclusive agents Victor Sozio, Shimon Shkury, Michael Tortorici and Josh Berkowitz represented the seller, a private investor and procured the buyer, Castellan Real Estate Partners.

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