SDG Development buys 3661 Broadway

Arbor Realty Trust provided the debt

Darin Goldstein’s SDG Development has acquired 3661 Broadway from Bruce Haley for $21.8 million. The Hamilton Heights property spans 72,360 square feeet, and contains 57 apartments, plus street-level retail (6,000 square feet). It’s located between West 151st and West 152nd Streets.

Acquisition financing: SDG secured a $17.5 million mortgage from Arbor Realty Trust to close the deal.

Flashback: The seller, Bruce Haley paid $194,000 for the property in 1982. Buy and hold is the way to go!