Five Washington Heights Buildings to Sell for $101.5 Million

WASHINGTON HEIGHTS, NY — A five-building real estate portfolio made up of entirely residential buildings is set to change hands with a hefty price tag — $105. million.

A buying group made up of several real estate investors will buy the buildings from Sentinel Real Estate Corporation, the Real Deal reported. The portfolio includes the buildings 66-72 Fort Washington Avenue, 80 Fort Washington Avenue, 86 Fort Washington Avenue, 838 Riverside Drive and 884 Riverside Drive, according to the report.

The five buildings contain 289 apartments, 62 percent of which are rent-regulated, the Real Deal reported. The portfolio generates an annual revenue of $5.8 million, of which $3.4 million is net income.

>>> Read the full Real Deal article here.

Photo: Google Maps street view Circa May 2016