Consisting of 16 stores and 68 apartments, the five-story property had been continuously owned by the original builder's family since the early 1920s. The addresses for the properties are 561-569 St. Nicholas Ave., known as 601 West 188th St., and 1571-1579 St. Nicholas Ave., known as 600 West 189th St. The seller wanted to divest of New York assets as part of an estate planning process, says Mann. The buyer is a "major investor in that part of the city," he notes. He adds that the private investor plans to hold on to the properties for the long-term.
The deal also included 599 West 177th street, a 13 unit and three-store building on the corner of St.Nicholas Avenue and West 177th Street.
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