News
SURGE OF UPTOWN ACTIVITY
October 27, 2011
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| Sponsor Massey Knakal's Robert Shapiro has been on a roll... take that, recession! In the past 30 days, he closed six buildings in five sales: 506 and 510 W 150th St ($6.40M, 61 units); 666 W 162nd St ($6M, 60 units); 79 W 127th St ($1.6M, 20 units); 838 Riverside Drive ($9.4M, 42 units); and 712 W 176th St ($5.3M, 40 units). Keep an eye out for continued competitive bidding environments because he just handled two properties that sold above asking price. Massey Knakal has a 25% market share of buildings and 28% of dollar volume sold in Robert's Washington Heights territory. Huge investor demand for stable multifamily assets in northern Manhattan, the instability of the stock market, a robust rental market, and extremely low interest rates make for irresistible opportunities, he says. Find out more here. |
