Prana Investments buys Washington Heights portfolio: $45.5 million

Manhattan, NY Prana Investments has purchased a $45.5 million portfolio of three, five-story multifamily walk-up buildings with 195 units in Washington Heights.

The seller was A & E Real Estate Holdings, headed by Douglas Eisenberg. Cignature Realty’s Lazer Sternhell and Peter Vanderpool represented the buyer and Rosewood Realty’s Aaron Jungreis represented the seller.

The buildings are located at 37 Sickles and 30 Sickles St. and 95 Thayer St. Together they total 148,850 s/f and have a cap rate of cap rate of 3.8%. They sold for $305 per s/f or 14.6 times the current rent roll.