Brooklyn-based Quantum Equities, a privately owned investor of multifamily and commercial properties in the New York metropolitan area, has bought 4 South Pinehurst Avenue on the corner of West 177th Street, Commercial Observer has learned.
L&L Realty Equities sold the pre-war building, which includes 59,000 square feet and 43 apartments, to Quantum Equities for approximately $9 million, according to a press release issued by the buyer.
“We are able to be very competitive in this market because we hold for the long-term,” said Yitzie Pretter of Quantum Equities in prepared remarks. “This building, along with several other Manhattan properties with which we are currently in contract, is in line with our strategy to acquire quality assets that will benefit from our vision and long-term, hands-on management style.”
The deal, which included no brokers, closed on Dec. 30, according to a spokeswoman.
L&L Realty Equities could not immediately be reached for comment.