Washington Heights Buildings Sell For $47M, Report Says

WASHINGTON HEIGHTS, NY — Two Washington Heights apartment buildings that were part of a 2016 land deal have been flipped for a profit, according to reports.

The adjacent six-story buildings at 80 and 86 Fort Washington Ave are changing hands for $47 million, real estate publication the Real Deal first reported. Both buildings were part of a portfolio that changed hands for $101.5 million in 2016, according to the report.

In 2016, 80 Fort Washington Ave. sold for $23 million and 86 Fort Washington Av.e sold for $16.3 million for a combined total of $39 million, according to public real estate records. In just two years the buildings' value increased by $8 million. Land deed transfer documents for the most recent sale are not yet public record.

The two apartment buildings contain a combined 140 apartment units, the Real Deal reported.

The buyer of the properties was identified by the Real Deal as RCR Management, a firm that recently acquired another building on West 187th Street for $33 million. The deal was brokered by Rosewood Realty Group, according to the report.

Read the full Real Deal article here.

Photo courtesy Google Maps street view