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Capin team sells uptown buildings.


Lazer Sternhell, Peter Vanderpool and Timour Shafran represented both the buyers and sellers in a $6,550,000 transaction involving two apartment buildings just south of Riverside State Park.

The Capin brokers also represented an unnamed property management company in the purchase of a building in Washington Heights, north of the Park, for $2,865,000.

It was a New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 condo converter who bought the two, six-story buildings at 514 and 516 West 135th Street from Tieman Place Associates.

"The properties are ideally suited for conversion to condominiums. Out of a total of 49 apartments in the buildings, 20 were vacant when the transaction closed," according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 the Peter Vanderpool. He pointed out that the buildings are close to a variety of commuting options, including the New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 Waterway ferry service.

The second transaction involved a single five story building with 25 apartments located north of Riverside Park Riverside Park refers to several locations:
  • Riverside Park (Manhattan)
  • Riverside Park (Indianapolis), historical amusement park in Indianapolis, Indiana that flourished in the 1930s, now a city park.
 at 507 West 170th Street.

"It's proximity to Columbia Presbyterian Medical Center, Riverside State Park and buses and subways and its under-market rent roll offers the buyer significant upside potential Upside potential

The amount by which analysts or investors expect the price of a security may increase.


upside potential

The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar
," Vanderpool noted.

The seller, Hallil Sikandar, was represented by Isaac Kohannim.
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Article Details
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Publication:Real Estate Weekly
Article Type:Brief article
Geographic Code:1USA
Date:Jul 23, 2008
Words:191
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