Deal traded at a 4.25% cap
Michael Zito’s Aulder Capital has acquired 574-580 West 176th Street from Fisher Associates for $14.475 million. The two Washington Heights rental buildings span a total of 43,965 square feet, and contain 62 units.
Be Smart: At $329 per foot and $233,467 per unit, the deal traded at around a 4.25 cap.
Worth Noting: Fisher paid $13 million for the properties in 2015. The seller at the time was Barry Rudofsky’s Bronstein Properties — he is the real winner here.